Daewoo Engineering & Construction-Q1 earnings

Daewoo Engineering & Construction Q1 net income up 17.4 pct. to 173.6 bln won

SEOUL, April 28 (Yonhap) -- Daewoo Engineering & Construction Co. on Thursday reported its first-quarter net profit of 173.6 billion won (US$137.2 million), up 17.4 percent from a year earlier.

The company said in a regulatory filing that it posted 221.3 billion won in operating profit for the quarter, compared with 229.4 billion won a year ago. Revenue rose 16 percent to 2.24 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 109.4 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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