Daewoo Engineering & Construction shares surged early on the 28th. Buying appetite is seen concentrating on news that Daewoo Engineering & Construction posted a "surprise earnings" result that day.
As of 9:35 a.m. that day, Daewoo Engineering & Construction shares were trading at 38,750 won, up 16.57% (5,500 won) from the previous session.
Daewoo Engineering & Construction disclosed that, based on provisional results for the first quarter of this year on a consolidation basis, it recorded revenue of 1.9514 trillion won, operating profit of 255.6 billion won, and net profit of 195.8 billion won.
Revenue fell 6% from a year earlier, but operating profit rose 68.9%. In particular, operating profit was a surprise earnings result that beat market expectations. It is the first time in 14 quarters that Daewoo Engineering & Construction has achieved operating profit in the 200 billion won range. Net profit jumped 237.6%.