[THE INVESTOR] South Korean builder Daelim Industrial’s consolidated operating profit is expected to surge 70 percent in the third quarter from a year earlier, a local brokerage firm said on Oct. 4.

“While its petrochemical division sustains favorable profits, the company’s affiliates including Yeochun NCC are showing improvement in sales,” said Jang Moon-joon, an analyst at HI Investment & Securities.

He expected Daelim Industrial will post 115.9 billion won (US$105 million) in consolidated operating profit in the July-September period, up 70.5 percent from a year ago.

Money-losing Daelim Saudi Arabia is likely to narrow its losses in the recent quarter, the analyst said.

HI Investment & Securities retained a buy rating and price target of 106,000 won.

By Park Han-na (hnpark@heraldcorp.com)