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[THE INVESTOR] Samsung C&T, a construction and trading affiliate of Samsung Group, bounced back into profit in the second quarter, on the back of its construction and resort segments.
In the April-June period, the company posted operating profit of 176.81 billion won (US$158.88 million), reversing a loss of 434.81 billion won in the previous quarter, it said in a regulatory filing on July 27.
Net profit came to 134.58 billion won, a turnaround from 516.63 billion won loss from the January-March period.
Sales rose 8.7 percent from the previous quarter to 7.05 trillion won.
The construction segment led the stellar earnings, posting 118 billion won in operating profit, following losses of 415 billion won in the previous quarter. The company cited its new overseas orders, including in Vietnam, Singapore and Canada, and also growing domestic construction projects behind the strong performance.
The resort segment’s operating profit rose to 60 billion won from loss of 4 billion won on-quarter, fueled by the rising demand nearing the peak season.
Meanwhile, the fashion segment fell to 1 billion won in operating profit from 7 billion won on-quarter, while trading and the biology segment -- which is touted as the company’s new growth engine -- recorded meager growth in profit.
By Ahn Sung-mi (sahn@heraldcorp.com)
In the April-June period, the company posted operating profit of 176.81 billion won (US$158.88 million), reversing a loss of 434.81 billion won in the previous quarter, it said in a regulatory filing on July 27.
Net profit came to 134.58 billion won, a turnaround from 516.63 billion won loss from the January-March period.
Sales rose 8.7 percent from the previous quarter to 7.05 trillion won.
The construction segment led the stellar earnings, posting 118 billion won in operating profit, following losses of 415 billion won in the previous quarter. The company cited its new overseas orders, including in Vietnam, Singapore and Canada, and also growing domestic construction projects behind the strong performance.
The resort segment’s operating profit rose to 60 billion won from loss of 4 billion won on-quarter, fueled by the rising demand nearing the peak season.
Meanwhile, the fashion segment fell to 1 billion won in operating profit from 7 billion won on-quarter, while trading and the biology segment -- which is touted as the company’s new growth engine -- recorded meager growth in profit.
By Ahn Sung-mi (sahn@heraldcorp.com)
