Asia Pulse
SAMSUNG C&T EARNINGS UP IN H1 FUELED BY OVERSEAS CONSTRUCTION
Thursday July 24, 10:27 PM
SEOUL, July 24 Asia Pulse - Samsung C&T Corp. reported Thursday that its operating profit in the first half shot up 19.3 percent year-on-year, fueled by overseas construction.
South Korea's construction and trading company said in a regulatory filing that operating profit reached 196.2 billion won (US$194.8 million), while sales topped 5.7 trillion won.
Overall sales shot up 24.2 percent on-year from the 4.6 trillion won reported for the first six months of 2007.
The company, however, said net income fell 21.9 percent to 263.7 billion won from 337.6 billion won tallied a year earlier. Last year's high numbers are attributed to the sell-off of the Samsung Plaza department store.
Samsung C&T said the general improvement in figures is mainly the result of its robust overseas construction work. A steady increase in sales of petrochemicals and steel contributed to high profits in the January-June period, it added.
(Yonhap)
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