Daewoo Engineering & Construction Co., one of Korea's leading builders, said Wednesday that its third-quarter net profit jumped 78 percent on-year on a drastic increase in overseas sales.
Net profit came to 49.5 billion won ($44 million) for the three months ended Sept. 30, compared with 27.8 billion won tallied a year earlier, the company said in a regulatory filing.
Revenue increased 41.6 percent on-year to 2.2 trillion won, while operating profit reached 72 billion won, down 24.94 percent from 96 billion won a year earlier.
In the first nine months of this year, the builder posted a net profit of 162.3 billion won, down 15.3 percent from a year earlier.
Sales jumped 23.3 percent on-year to 6 trillion won during the January-September period, with operating profit tumbling 24.3 percent on-year to 255.4 billion won.
The builder said it could reach its 2012 sales target of 8 trillion won as sales are expected to continue to increase in the fourth quarter.
Daewoo Engineering & Construction also said it is trying to strengthen its position in Nigeria, Algeria and Malaysia while tapping new markets in Saudi Arabia, South Africa and Latin America.(Yonhap)