Samsung C&T Posts 29.6% Jump in Q4 Operating Profit to 822.2 Billion Won

Samsung C&T said in a regulatory filing Tuesday that its fourth-quarter operating profit rose 29.6% from a year earlier to 822.2 billion won on a consolidated basis.
 
Revenue increased 8.4% to 10.8324 trillion won. Net profit surged 137.6% to 1.5582 trillion won.
 
For the full year, revenue totaled 40.7422 trillion won and operating profit was 3.2927 trillion won. Compared with the previous year, revenue fell 3.2% while operating profit rose 10.4%.
 
Samsung C&T said it maintained solid results despite growing global uncertainty and shifts in the business environment, citing a diversified portfolio and competitiveness across its divisions.
 
By business segment, the construction unit posted weaker results as large projects, including high-tech work, moved into completion stages. The trading unit lifted revenue by expanding sales despite the spread of protectionism, but operating profit edged down.
 
The fashion unit saw a slight rise in revenue, but operating profit declined due to higher costs including marketing. The resort unit reported higher revenue on expanded food service and food-and-beverage distribution.