Daewoo E&C-Q2 earnings
Daewoo E&C Q2 net profit down 65.2 pct to 48.4 bln won
SEOUL, July 28 (Yonhap) -- Daewoo Engineering & Construction Co. on Thursday reported its second-quarter net profit of 48.4 billion won (US$36.9 million), down 65.2 percent from a year earlier.
The company said in a regulatory filing that it posted 86.4 billion won in operating profit for the quarter, compared with 192.3 billion won a year ago. Sales rose 10.6 percent to 2.44 trillion won.
The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 112.3 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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