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(LEAD) Doosan Infracore's 2018 net profit rises 33 pct on increased sales

All Headlines 16:54 February 12, 2019

(ATTN: ADDS more details in paras 5-7)

SEOUL, Feb. 12 (Yonhap) -- Doosan Infracore Co., South Korea's largest construction equipment maker by sales, said Tuesday that its net profit jumped 33 percent last year from a year earlier on robust sales.

Net profit reached 394 billion won (US$351 million) last year, up from 297 billion won a year earlier, the company said in a regulatory filing.

Operating income spiked 28.4 percent on-year to 848 billion won, and sales rose 17.7 percent to 7.73 trillion won over the cited period.

The excavator maker said increased sales in China, Southeast Asia, North America and Europe boosted its annual bottom line.

Doosan Infracore said its revenue from China surged 43.3 percent to 1.31 trillion won, and that the company earned some 1.18 trillion won in sales generated from emerging markets.

Its sales in North America and Europe also increased 11.9 percent to 759 billion won, it said.

Doosan Infracore said it expects 8.2 trillion won in sales this year and 795 billion won in operating income.

Also on Tuesday, Doosan Bobcat Inc., affiliated with Doosan Infracore, said its net profit declined 3.3 percent on-year to reach 265 billion won last year.

Its operating income surged 16.3 percent to 459 billion won over the cited period and sales jumped 17.1 percent to 3.97 trillion won.

Doosan Bobcat expects an operating income of some 446 billion won on sales of 4.21 trillion won this year.

Doosan Infracore holds a controlling 55.3-percent stake in Doosan Bobcat.

(LEAD) Doosan Infracore's 2018 net profit rises 33 pct on increased sales - 1


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