Daewoo E&C Reports Nearly 70% Surge in Q1 Operating Profit

Daewoo E&C Q1 profit surges nearly 70%

Daewoo Engineering & Construction said Tuesday its first-quarter operating profit rose nearly 70 percent from a year earlier, as margins improved in its core building business despite a challenging external environment. The builder reported operating profit of 255.6 billion won ($173 million) in the January-March period, up 68.9 percent on-year, while net profit more than tripled to 195.8 billion won. Revenue fell 6.0 percent to 1.95 trillion won from 2.08 trillion won. By segment, housing and b

By The Korea Herald