SEOUL, Daewoo Engineering and Construction Co. on Tuesday reported its fourth-quarter net profit of 109.3 billion won (US$81.8 million), down 2.1 percent from a year earlier.
The company said in a regulatory filing that it posted 77.9 billion won in operating profit for the quarter, compared with 246.8 billion won a year ago. Sales fell 13.4 percent to 2.77 trillion won.
The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 132.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency