Doosan Heavy swings to Q2 net loss on lower demand

SEOUL-- Doosan Heavy Industries and Construction Co., South Korea's leading desalination plant builder, shifted to a net loss in the second quarter from a year earlier amid slowing global demand, the company said Wednesday.

Doosan Heavy swung to a loss of 26.13 billion won (US$23 million) in the April-June quarter from 130.74 billion won in the black a year earlier, the plant company said in a regulatory filing.

Operating profit rose 17 percent to 305.94 billion won in the second quarter from 262.37 billion won a year ago. Sales rose 6.3 percent to 3.825 trillion won from 3.598 trillion won, it said.

In the January-June period, net profit plunged 95 percent year-over-year to 11.33 billion won from 220.50 billion won, the filing showed.

Source: Yonhap News Agency

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