Daewoo E&C Q1 net profit down 43.4 pct to 98.3 bln won

Daewoo E&C-Q1 earnings

Daewoo E&C Q1 net profit down 43.4 pct to 98.3 bln won

SEOUL, April 27 (Yonhap) -- Daewoo Engineering & Construction Co. on Thursday reported its first-quarter net profit of 98.3 billion won (US$73.6 million), down 43.4 percent from a year earlier.

Operating income for the January-March period was 176.7 billion won, down 20.2 percent from a year ago, the company said in a regulatory filing. Revenue rose 15.9 percent to 2.6 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 96.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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