Samsung Engineering net up 37.7 pct in 2009

By Nam Kwang-sik
SEOUL, Jan. 28 (Yonhap) -- Samsung Engineering Co., South Korea's largest
industrial plant builder, said that its net income rose 37.7 percent last year
from a year ago thanks to a rise in sales.

Net profit came to 259.4 billion won (US$223.1 million) in 2009, compared with
188.4 billion won a year ago, Samsung Engineering said.
Sales rose 31.7 percent on-year to 3.47 trillion won in the period, and operating
profit more than doubled to 315.6 billion won.
"Increased sales stemming from a rise in order backlogs in 2008 contributed to
the 2009 strong performances," Samsung Engineering said in a regulatory filing.
Samsung Engineering will pay a yearly cash dividend of 2,000 won per share, worth
a total of 75.8 billion won.
Shares of Samsung Engineering rose 6.16 percent to 112,000 won as of 2:22 p.m. on
the Korea Exchange.
On a consolidated basis, which reflects earnings from Samsung Engineering and its
overseas units, net profit stood at 248 billion won in 2009, up 23.46 percent
from a year ago. Sales rose 25.52 percent on-year to 4.03 trillion won last year,
and operating profit nearly doubled to 325.4 billion won.
Under the 2010-2012 business plan, Samsung Engineering is aiming for 11 trillion
won in new orders and 5 trillion won in sales in 2010.
The company also plans to increase its new orders to 15 trillion won and its
sales to 10 trillion won in 2012.
Samsung Engineering expected that the global petrochemical plant market will
continue to grow as oil-producing countries are predicted to increase their
investment in construction of petrochemical plants in a bid to meet growing
energy demand.
ksnam@yna.co.kr
(END)

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