GS Engineering's net falls 7.7 pct in 2008

By Nam Kwang-sik
SEOUL, Jan. 20 (Yonhap) -- GS Engineering & Construction Co., South Korea's
second-largest builder by sales, said Tuesday that its 2008 profit dropped 7.7
percent from a year earlier due to a sluggish housing market.
Net income came to 368.7 billion won (US$267.4 million) last year, compared with
399 billion won a year earlier, GS Engineering & Construction said in a
regulatory filing.
Sales, however, rose 14.2 percent to 6.86 trillion won and operating profit
climbed 7.9 percent to 476.8 billion won, it said.
ksnam@yna.co.kr
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