Doosan Infracore swings to black in Q2

SEOUL, July 22 (Yonhap) -- Doosan Infracore Co., South Korea's leading construction equipment maker, said Friday that it swung to the black in the second quarter from a year earlier on increased sales. Net profit reached 171 billion won (US$163 million) in the April-June period, compared with a loss of 33 billion won a year earlier, the company said in a regulatory filing. Sales surged 9.3 percent to 2.26 trillion won over the cited period, and operating income gained 2.3 percent to 235 billion won, it said. Shares of Doosan Infracore closed at 26,450 won on the Seoul bourse, up 4.13 percent. The second-quarter business results were released after the market closed. Doosan Infracore has been bullish in recent weeks on speculation that demand for excavators in China is expected to rise in the second half of the year.