Daewoo Engineering Q2 net rises nearly 2.5-fold

By Nam Kwang-sik
SEOUL, July 31 (Yonhap) -- Daewoo Engineering & Construction Co., South Korea's
third-largest builder, said Friday its second-quarter earnings rose nearly 2.5
times from a year earlier thanks to increased profits from equity investments.

Net profit stood at 161 billion won (US$130.7 million) in the April-June period,
compared with 64.6 billion won a year ago, Daewoo Engineering & Construction said
in a regulatory filing.
Sales rose 4.8 percent on-year to 1.79 trillion won during the same period, while
operating profit fell 63 percent to 50 billion won.
Shares of Daewoo Engineering & Construction finished up 1.17 percent to 13,000
won on the Seoul bourse.
The builder said its second-quarter bottom line soared on increased profits from
its 23.95 percent stake in Korea Express Co., South Korea's leading logistics
company.
ksnam@yna.co.kr
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