Kumagai Gumi Co. on Monday said it posted a net profit of 2.55 billion yen for the 2001 business year, the first time in nine years that black ink flowed onto its books.

The construction company, which posted a net loss of 2.65 billion yen the previous year, attributed the result to lower costs and improved efficiencies.

In the reporting year, Kumagai Gumi said consolidated sales came to 737.33 billion yen, down 7.1 percent for the third consecutive year of decline.