Daesung Industrial Reports Operating Profit of 3.9 Billion KRW Last Year... Returns to Profitability

[Asia Economy Reporter Minji Lee] Daesung Industrial announced on the 11th that it recorded an operating profit of 3.93313 billion KRW last year, turning to a surplus. Net profit also turned positive, reaching 48.1 billion KRW, while sales decreased by about 3% to 845 billion KRW.

The company explained, "Operating expenses decreased due to increased profits in the petroleum division and reduced hotel rental fees, and we turned to a surplus through the acquisition of shares in Daesung Celtic Energies." It added, "Net profit increased due to the reflection of land sale gains and the receipt of settlement payments from the redevelopment project near the station area."