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builders-2012 tally

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(Globalpost/GlobalPost)

SEOUL, April 4 (Yonhap) -- Nearly half of South Korea's construction companies lost money in 2012 as they were hit hard by the protracted slump in the local property market, data showed Thursday.

According to the data compiled by market researcher FnGuide Inc., 30 out of 62 construction companies listed on the South Korean stock markets posted a net loss last year on a consolidated basis.

The net loss of local builders came to 1.4 trillion won (US$1.3 billion) last year, a sharp turnaround from a net profit of 552 billion won a year earlier, with their operating profit also shedding 36.6 percent on-year to 1.6 trillion won.

Kumho Industrial Co., the construction unit of Kumho Asiana Group, posted the largest net loss of 727.9 billion won, compared to a net loss of 49.5 billion won in 2011. Ssangyong Engineering

http://www.globalpost.com/dispatch/news/yonhap-news-agency/130403/builders-2012-tally