Samsung Engineering jumps on positive outlook despite slump in sector

Samsung E&A Co

29/10/2018 06:36

** Shares of South Korea's Samsung Engineering  028050.KS 
jump as much as 10.2 pct after it posts a huge gain in
third-quarter operating profit
    ** The company says on Friday its Q3 operating profit surges
451.8 pct to 15.3 bln won ($13.42 mln)
    ** Samsung Engineering is considered to be among the more
promising companies for 2019 in the construction sector, says
Lee Sang-woo, an analyst at Eugene Investment & Securities 
    ** New orders of other engineering & construction firms are
mainly from domestic housing, but Samsung Engineering's new
orders are largely from overseas, especially devoted to
international plant projects, Lee adds
    ** The sub-index for the construction sector  .KS44  closes
down 4.0 pct; Daewoo Engineering & Construction  047040.KS  and
Hyundai Engineering & Construction  000720.KS  ends 5.4 pct and
5.8 pct lower, respectively
    ** Broader market  .KS11  down 1.5 pct
    ($1 = 1,140.0100 won)

 ((joori.roh.thomsonreuters.com@reuters.net))