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(LEAD) Daewoo E&C Q1 net rises 25.3 pct on cost-cutting efforts

All News 10:07 April 28, 2020

(ATTN: UPDATES with company's comments and details; ADDS photo)

SEOUL, April 28 (Yonhap) -- Daewoo Engineering & Construction Co. said Tuesday its first-quarter net profit jumped 25.3 percent from a year earlier due to cost-cutting efforts.

In the three months ending March 31, Daewoo E&C posted a net profit of 61.9 billion won (US$50.5 million), compared with 49.4 billion won a year earlier, the company said in a regulatory filing.

The company said cost-cutting efforts in its civil business division and plant division contributed to the hike in net profit.

The builder's operating profit rose 22.7 percent to 120.9 billion won in the first three months of 2019. Sales fell 2.2 percent to 1.98 trillion won from 2.03 trillion won during the same period, it said.

(LEAD) Daewoo E&C Q1 net rises 25.3 pct on cost-cutting efforts - 1

entropy@yna.co.kr
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