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(2nd LD) Daelim Industrial Q4 net jumps eightfold

All News 16:31 January 30, 2020

(ATTN: UPDATES with comments by company spokesman; ADDS photo)

SEOUL, Jan. 30 (Yonhap) -- Daelim Industrial Co., a major builder in South Korea, said Thursday that its fourth-quarter net profit jumped more than eightfold.

Net profit climbed to 119.1 billion won (US$100.4 million) in the three months that ended Dec. 31 from 14.4 billion won a year earlier, the company said in a regulatory filing.

The company said it won profitable contracts at home and abroad two to three years ago, which were factored in the 2019 earnings results.

Operating profit more than doubled to 347.7 billion won in the fourth quarter from 166.6 billion won a year earlier. Sales rose 0.3 percent to 2.73 trillion won from 2.72 trillion won during the same period the year before.

This file photo shows Daelim Industrial's corporate logo atop its main office in central Seoul (Yonhap)


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