Published : Jan. 27, 2016 - 17:04
Daewoo Engineering & Construction said Wednesday that its fourth-quarter net profit plunged 83.3 percent from a year earlier.
Net profit came to 6.2 billion won ($5.2 million) in the October-December period last year, compared to 36.9 billion won a year earlier, the company said in a regulatory filing.
Operating income fell 40 percent to 57.4 billion won over the cited period, and sales were down 4.5 percent to 2.6 trillion won.
For the entire year, net income grew 8.4 percent to 146.2 billion won, while operating profit shrank 19.5 percent to 334.6 billion won. Its sales inched up 0.3 percent to 9.9 trillion won.
In its outlook for 2016, the builder said it aims to log 11.2 trillion won in sales by securing 12.2 trillion won worth of orders from home and abroad.
Shares of Daewoo E&C closed up 3.35 percent at 5,560 won on the Korea Exchange today.
(khnews@heraldcorp.com)