Doosan Infracore recorded W720.8 billion in sales on a parent basis during the third quarter of 2006, up 2.7% from the same period a year earlier. Third quarter operating profit was 94% higher year on year (from W25 billion to W48.5 billion), while recurring profit rose 88.5% (from W27.8 billion to W52.4 billion) in 2006.

Aggregate sales and operating profit through the first three quarters amounted to 70.4% and 75.3%, respectively, of the targets set for this year. The sales performance has been boosted by robust sales of major product lines such as construction equipment, forklift trucks and machine tools. Moreover, company officials are confident that the annual targets will be exceeded easily, given the order backlog and current demand.

Turning to fiscal soundness, both the debt-to-equity and net debt-to-equity ratios are lower than they were a year or even a quarter ago. Net borrowings have fallen by W266.9 billion, reducing the D-E ratio from 133% at the end of the third quarter in 2005 to 124% a year later. The net D-E ratio, too, has been brought down from 44% to 38%.

Doosan Infracore briefed a total of twenty-three analysts from domestic and foreign securities firms October 26 and 27. The sessions covered third quarter performance results as well as the overall operational status, the corporate vision and strategies. The analysts also toured the two Doosan Infracore plants at Changwon, Korea.