Daewoo Engineering & Construction-Q4 earnings

Daewoo Engineering & Construction Q4 net income up 2.8 pct to 111.6 bln won

SEOUL, Jan. 31 (Yonhap) -- Daewoo Engineering & Construction Co. on Tuesday reported its fourth-quarter net income of 111.6 billion won (US$90.5 million), up 2.8 percent from a year earlier.

The company said in a regulatory filing that operating profit for the October-December period rose 20.8 percent on-year to 246.8 billion won. Sales increased 31.6 percent to 3.2 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 126.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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