(LEAD) Samsung C&T Q4 net rises nearly nine-fold

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By Nam Kwang-sik
SEOUL, Jan. 28 (Yonhap) -- Samsung C&T Co., a South Korean construction and
trading firm, said Thursday that its net profit rose nearly nine-fold in the
fourth quarter from a year earlier on gains from equity investment in its
subsidiaries.

Net income stood at 52.8 billion won (US$45.4 million) in the October-December
period from 6 billion won a year ago, Samsung C&T said in a regulatory filing.
Revenue rose 8.6 percent on-year to 2.93 trillion won, while operating profit
fell 2.1 percent to 45.9 billion won.
Shares of Samsung C&T closed down 0.5 percent at 60,000 won on the Seoul bourse.
"The robust results in the fourth quarter stemmed from profits from equity
investment in our affiliates, and the fourth quarter of 2008 had been very severe
period" because of the global financial turbulence," said Min Byung-hoon, a
spokesman for Samsung C&T.
Samsung C&T plans to pay a cash dividend of 500 won a share and a cash dividend
of 550 won for preferred shares for the fiscal year of 2009. Dividends will total
75.4 billion won.
For the whole of 2009, the company's earnings fell 11 percent to 307.5 billion
won due to decreased operating profit, which plunged 23 percent from a year ago
to 280.5 billion won. Sales dropped 8 percent to 10.87 trillion won.
ksnam@yna.co.kr
(END)

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