[
THE INVESTOR]
Doosan Heavy Industries said on Feb. 16 that its loss narrowed sharply last year from the previous year largely due to the tough restructuring moves aimed at reducing costs.
According to the company in a regulatory filing, net loss reached 216 billion won (US$189 million) on a consolidated basis last year, compared with a loss of 1.75 trillion won a year earlier. The company also logged an operating income of 791 billion won last year, shifting from an operating loss of 27 billion won the previous year. In addition, sales fell 4 percent on-year to reach 13.89 trillion won last year.
Doosan Heavy said despite decreased sales, its efforts to restructure the company by focusing on profitable projects and cutting costs paid off. Also, the company stated that its affiliates’ improved performance helped it log a better-than-expected bottom line.
(
theinvestor@heraldcorp.com)