Samsung C&T Construction Q1 Operating Profit Falls 30% to 111 Billion Won

Samsung C&T Corp.’s construction division said April 29 that its first-quarter operating profit fell 30.1% from a year earlier to 111 billion won.
 
Revenue for the quarter slipped 5.7% to 3.413 trillion won, it said.
 
A company official cited one-time costs and the completion of major projects as reasons revenue and operating profit declined from a year earlier. The official said results are expected to improve gradually as key businesses continue to move forward steadily.
 
For Samsung C&T overall, the company reported revenue of 10.466 trillion won and operating profit of 720 billion won.
 
Another company official said the firm maintained solid results despite an uncertain business environment, including geopolitical risks, and the impact of one-time costs, citing a diversified business portfolio and competitiveness.