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Samsung C&T swings to net loss in Q4

All News 10:44 January 28, 2016

SEOUL, Jan. 28 (Yonhap) -- Samsung C&T Corp., the fashion and trading arm of Samsung Group, said Thursday that it swung to a net loss in the fourth quarter of 2015.

Samsung C&T posted a net loss of 161.7 billion won (US$133.7 million) in the October-December period, a sharp turnaround from a net profit of 2.9 trillion won in the previous quarter, the company said in a regulatory filing.

The company also reported an 89.1 billion-won operating loss during the three-month period, compared with an operating profit of 81.2 billion won in the third quarter. Sales, however, more than doubled to 7.2 trillion won over the cited period.

Samsung C&T didn't provide on-year comparisons because it was launched in September following a merger between Cheil Industries Inc. and Samsung C&T Corp., a construction and trading unit.

Shares of Samsung C&T were trading at 145,000 won, up 2.84 percent from the previous trading as of 10:30 a.m. on the Seoul bourse.


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