Doosan Infracore Q3 loss widens on FX costs

SEOUL, Nov. 4 (Yonhap) -- Doosan Infracore Co., South Korea's leading construction equipment maker, said Wednesday its net loss widened in the third quarter from a year earlier on higher currency costs.

Net loss stood at 169 billion won (US$143 million) in the July-September period,
compared with a loss of 43 billion won a year earlier, the company said in a
regulatory filing.
Sales dropped 28 percent to 654 billion won due to the economic downturn, and
operating income also fell 0.2 percent to 63.7 billion won, according to the
company.
Doosan Infracore expects its sales and operating income to reach 755 billion won
and 87 billion won, respectively, in the fourth quarter.
"On the back of a pickup in demand for construction equipment in major economies
and cost-cutting measures, our business performance will improve down the road,"
a company official said.
Shares of Doosan Infracore were trading at 17,300 won on the Seoul bourse as of
1:20 p.m., up 1.17 percent.
sam@yna.co.kr
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