Seoul: Samsung C and T Corp., a construction and trading arm of Samsung Group, announced on Wednesday that its net income for the second quarter had decreased by nearly 30 percent from the previous year, primarily due to reduced demand in the construction and fashion sectors.

According to Yonhap News Agency, the company’s regulatory filing revealed a net profit of 526.5 billion won (US$380.9 million) for the April-June period, representing a 28.3 percent decline from the same period last year. Additionally, the company’s operating income fell by 16.4 percent year-on-year to 752.6 billion won, while sales dropped by 8.9 percent, totaling 10.02 trillion won.

Samsung C and T attributed its second-quarter performance to the completion of large-scale projects and a slowdown in domestic consumption within the fashion industry. The construction division experienced a significant downturn, with sales decreasing by 30.9 percent year-on-year to 3.4 trillion won and operating profit dropping by 58.3 percent to 118 billion won.

Conversely, the trading division showed positive results, reporting 3.78 trillion won in sales and 80 billion won in operating profit for the second quarter, marking an 11.1 percent increase in both areas compared to the previous year. In contrast, the fashion segment saw a slight decrease in sales to 510 billion won, with operating profit suffering a 36.5 percent decline to 52 billion won.