[
THE INVESTOR] South Korean builder
Daelim Industrial’s consolidated operating profit is expected to surge 70 percent in the third quarter from a year earlier, a local brokerage firm said on Oct. 4.
“While its petrochemical division sustains favorable profits, the company’s affiliates including Yeochun NCC are showing improvement in sales,” said Jang Moon-joon, an analyst at HI Investment & Securities.
He expected Daelim Industrial will post 115.9 billion won (US$105 million) in consolidated operating profit in the July-September period, up 70.5 percent from a year ago.
Money-losing Daelim Saudi Arabia is likely to narrow its losses in the recent quarter, the analyst said.
HI Investment & Securities retained a buy rating and price target of 106,000 won.
By Park Han-na (
hnpark@heraldcorp.com)
