Hyundai Engineering eyes 23 pct gain in 2009 sales

By Nam Kwang-sik
SEOUL, Jan. 8 (Yonhap) -- South Korea's third-largest builder Hyundai Engineering
& Construction Co. said Thursday that it is aiming for 8 trillion won (US$6.1
billion) in revenue this year, up 23 percent from a year earlier.
The builder predicts $4.66 trillion won in domestic sales and $3.37 trillion in
overseas sales, with a net profit of 295.8 billion won in 2009 from its strong
order backlogs of 39 trillion won.
Hyundai Engineering expects new orders worth 15.6 trillion won this year, down
4.9 percent from 16.4 trillion won a year ago, due to a slumping global economy.
The builder also plans to post 462.6 trillion won in operating profit by the end
of the year.
"Housing markets in South Korea are expected to face a slump this year due to a
deepening global economic downturn. We will actively take part in infrastructure
projects," a company official said.
The South Korean government announced Tuesday its plan to invest 50 trillion won
in the development of infrastructure over the next four years in a bid to create
jobs and prop up the slumping economy.
ksnam@yna.co.kr
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