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Daewoo Engineering swings to loss in 2016

All News 11:33 February 09, 2017

SEOUL, Feb. 9 (Yonhap) -- Daewoo Engineering & Construction Co., a major construction firm, said Thursday that it swung to the red last year from a year earlier as it put aside reserves against potential losses related to overseas projects.

Net loss reached 794 billion won (US$692 million) last year, compared with a profit of 146 billion won a year earlier, the company said in a regulatory filing.

Sales increased 11.2 percent on-year to reach 10.99 trillion won last year, while it logged an operating loss of 503 billion won last year, shifting from an operating income of 335 billion won.

Daewoo Engineering swings to loss in 2016 - 1


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