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Samsung Engineering Q2 net improves amid plant business slowdown

All Headlines 16:56 July 28, 2017

SEOUL, July 28 (Yonhap) -- Samsung Engineering Co. said Friday its second-quarter net profit improved marginally, helped by companywide cost-cutting efforts.

In the three months ending June 30, the plant builder posted a net profit of 31.4 billion won (US$28 million), up from 2.3 billion won a year earlier, the company said in a statement.

"The plant industry is still struggling due to unfriendly business environments. Low oil prices were a major drag in the second-quarter results," a company spokesman said by phone.

Operating profit rose to 12.4 billion won in the April-June period from 3.6 billion won a year ago. Sales fell 28 percent to 1.356 trillion won from 1.880 trillion won, the company said.

Samsung Engineering, an affiliate of Samsung Group, earns most of its sales from overseas plant projects.


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