Daewoo Engineering and Construction Co. on Tuesday reported its second-quarter net income of 96.5 billion won (US$69.8 million), down 52.7 percent from a year earlier.

Operating income for the April-June period was 104.8 billion won, down 51.9 percent from a year ago, the company said in a regulatory filing. Revenue fell 13.8 percent to 2.82 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 75.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency