Daewoo Heavy Industries & Machinery Ltd made KRW100.9 billion (USD81.16 million) in net profit in 2002, its second consecutive profitable year since its separation from the Daewoo group in 2000.

Total sales for the year ended December 31 were KRW1.88 trillion (USD1.512 billion), up 22 percent from 2001. Operating profits reached KRW157.5 billion (USD126.6 million), up 188 percent.

Daewoo said in a report that a recovery in the domestic construction market, stronger exports to China and enhanced profitability through restructuring contributed to the positive results.