April 19, 2024

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[THE INVESTOR] Daewoo Engineering & Construction said on Nov. 2 that its third-quarter net profit jumped 31 percent.

Net profit for the three months that ended Sept. 30 climbed to 89.3 billion won (US$80 million) from 68.1 billion won a year earlier, the company said in a statement.

“As we expect to sign several overseas construction projects by the end of this year, it will further buoy the bottom line,” the statement said.

Operating profit rose 7 percent to 113.8 billion won in the third quarter from 106.4 billion won a year ago. Sales were up 10.4 percent to 3.098 trillion won from 2.806 trillion won during the cited period, it said.

In the January-October period, its net profit soared to 411.8 billion won from 114.3 billion won a year earlier. Operating profit jumped 93 percent on-year to 580.7 billion won on sales of 8.852 trillion won, a 5.5 percent on-year rise.

By Alex Lee and newswires (alexlee@heraldcorp.com)