[Featured Stock] Samsung C&T Rises 3.7% on Earnings Growth Expectations
[Asia Economy Reporter Minji Lee] Samsung C&T is showing an intraday rise of over 3%.
On the 28th at 10:43 AM, Samsung C&T was trading at 112,000 KRW, up 3.7% from the previous trading day.
It is analyzed that buying demand has expanded as there are expectations that performance will improve mainly in the construction and trading divisions due to price increases driven by expanding inflation. Byeonghwa Han, a researcher at Eugene Investment & Securities, said, “Major commodities including energy are likely to maintain elevated price levels for a considerable period due to supply-demand instability, increasing the potential for expansion in the trading division and liquefied natural gas (LNG) infrastructure construction business.”
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Earlier, Samsung C&T posted an earnings surprise with first-quarter sales and operating profit of 10.4 trillion KRW and 542 billion KRW, respectively. Sales and operating profit in the trading division surged 53% and 126% year-on-year, respectively.
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