Daelim Industrial's Q3 net up 28.5% on one-off gains

Daelim Industrial Co., a major South Korean builder, said Thursday its net profit rose 28.5 percent in the third quarter from a year earlier due to one-off gains.

Net profit for the July-September period came to 229.1 billion won ($202.4 million), compared with 178.3 billion won a year earlier, the company said in a regulatory filing.

Daelim Industrial said the reversal of the allowance for bad debts boosted its bottom line.

Daelim Industrial said sales rose 2.7 percent on-year to 2.22 trillion won in the third quarter, and operating profit increased 11.9 percent on-year to 249.5 billion won. (Yonhap)