Doosan Heavy expects sales to gain 22 pct this year

SEOUL, Feb. 13 (Yonhap) -- Doosan Heavy Industries & Construction Co., South Korea's biggest power-equipment maker, said Friday that its sales are expected to increase 22 percent this year on the back of rising demand from China and other regions.

In a regulatory filing, the company said its sales are expected to reach 6.95
trillion won (US$4.95 billion) this year, compared with last year's 5.7 trillion
won.
Operating income is forecast to rise 9 percent to 521 billion won, and new orders
are seen at 8.85 trillion won. The company did not elaborate on last year's
orders.
Last year, Doosan Heavy posted 17.6 billion won in net profit, a 94-percent drop
from a year earlier mainly due to losses from equities with affiliates.
Nations in Asia and the Middle East have increased spending on oil refinery and
power plant construction in the past few years, but demand for power plants is on
the wane due to the global economic downturn.
sam@yna.co.kr
(END)

Delete