Doosan Infracore Co., South Korea's top construction equipment maker, said Thursday that its third-quarter earnings more than doubled from a year earlier on the back of increased sales in emerging markets such as China.
Net profit reached 77.2 billion won (US$69.3 million) in the July-September period, compared to a loss of 35.7 billion won a year earlier, the company said in a regulatory filing.
Operating income was tallied at 144 billion won, up 36.1 percent from a year earlier, while sales surged 21.7 percent on-year to reach 1.59 trillion won.
Doosan Infracore said sales of its construction equipment such as excavators in emerging markets and China helped it rack up decent earnings.
According to a company official, its sales in China more than tripled to 176 billion won from a year earlier.
Doosan Infracore expects China's excavator market to top 120,000 units this year for the first time in six years.
Sales in emerging markets also spiked 12 percent on-year during the third quarter.
Hwi Won firstname.lastname@example.org
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