SEOUL, Oct. 27 (Yonhap) — Samsung C&T Corp., a construction and trading business unit of Samsung Group, on Tuesday reported solid growth in its third-quarter net income on gains from equity ties with its affiliate.
The company reported a net profit of 323.4 billion won (US$287.3 million) in the July-September period, up 22.1 percent from a year earlier.
Its operating profit declined 0.4 percent on-year to 215.5 billion won in the third quarter, but sales rose 1.5 percent on-year to 7.85 trillion won over the cited period.
Samsung C&T said gains from equity ties with Samsung Biologics Co., a major biopharmaceutical firm in South Korea, and improved performance from its trading business boosted the third-quarter bottom line.
Samsung C&T holds a 43.4 percent stake in Samsung Biologics, which earlier reported a third-quarter net profit of 56.1 billion won, up 27 percent from a year ago.