Daewoo International Q2 net almost triples

SEOUL, July 22 (Yonhap) -- Daewoo International Corp., a trading company controlled by South Korean steel giant POSCO, said Friday that its second-quarter earnings almost tripled from a year earlier on increased sales. Net profit reached 88 billion won (US$83.7 million) in the April-June period, compared with a profit of 29 billion won a year earlier, the company said in a regulatory filing. Sales jumped 13 percent to 4.89 trillion won over the cited period, and operating income also rose 5 percent to 49 billion won, it said. Shares of Daewoo International closed at 42,900 won on the Seoul bourse, down 0.12 percent. The second-quarter business results were released after the market closed. Daewoo International, which mostly buys and sells steel, metals and auto parts, also operates a gas project in Myanmar and owns a stake in a nickel mine in Madagascar.