Daewoo Engineering and Construction Q1 net income down 6.9 pct to 91.5 bln won

SEOUL, Daewoo Engineering and Construction Co. on Tuesday reported its first-quarter net income of 91.5 billion won (US$66.4 million), down 6.9 percent from a year earlier. The company said in a regulatory filing that operating profit for the January-March period fell 35 percent on-year to 114.8 billion won. Revenue decreased 4.6 percent to 2.48 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 84 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency