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(LEAD) Daelim Industrial's Q3 net up 28.5 pct on one-off gains

All News 16:02 October 29, 2020

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

SEOUL, Oct. 29 (Yonhap) -- Daelim Industrial Co., a major South Korean builder, said Thursday its net profit rose 28.5 percent in the third quarter from a year earlier due to one-off gains.

Net profit for the July-September period came to 229.1 billion won (US$202.4 million), compared with 178.3 billion won a year earlier, the company said in a regulatory filing.

Daelim Industrial said the reversal of the allowance for bad debts boosted its bottom line.

Daelim Industrial said sales rose 2.7 percent on-year to 2.22 trillion won in the third quarter, and operating profit increased 11.9 percent on-year to 249.5 billion won.

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


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