SEOUL-- Doosan Heavy Industries & Construction Co., a South Korean plant builder, swung to a profit in 2021 for the first time in eight years on the back of brisk new orders.
Net profit came to 645.8 billion won (US$539 million) in 2021, a turnaround from a net loss of 838 billion won a year earlier, the company said in a regulatory filing.
Operating profit also switched to a profit of 890.8 billion won over the same period. Sales advanced 22.5 percent on-year to 11.8 trillion won.
Doosan Heavy attributed the strong performance to brisk orders.
The company has bagged 7.32 trillion won worth of projects in 2021, up 33 percent from a year earlier.
Earlier in the day, Doosan Heavy also said it has received a 1 trillion won deal from Saudi Arabia to build a casting and forging plant.
In 2022, the company said its sales are expected to reach 7.3 trillion won, along with an operating profit of 284.9 billion won.
Shares of Doosan Heavy closed down 0.29 percent at 17,350 won Friday, when the main bourse dropped 0.87 percent.
Source: Yonhap News Agency