(ATTN: CHANGES headline; UPDATES throughout with latest details; ADDS photo)
SEOUL, Oct. 29 (Yonhap) -- South Korean shipbuilder Samsung Heavy Industries Co. said Thursday its third-quarter net profit more than tripled from a year earlier, driven by strong sales of high-value-added vessels.
Net profit for the July-September period stood at 470.8 billion won (US$352.4 million), up 235.6 percent from a year earlier, the company said in a regulatory filing.
Operating profit surged 42.1 percent on-year to 338.4 billion won, while revenue rose 19.6 percent to 3.15 trillion won.
Samsung Heavy said its operating profit margin reached 10.7 percent despite fewer working days due to summer vacations and fall holidays, supported by increased production of high-value-added vessels.
Samsung Heavy has secured US$12.4 billion in orders for 48 vessels, including 20 liquefied natural gas (LNG) carriers and two floating LNG facilities, reaching 89 percent of its annual order target.
A liquefied natural gas carrier built by Samsung Heavy Industries Co. is seen in this photo provided by the shipbuilder. (PHOTO NOT FOR SALE) (Yonhap)
ejkm@yna.co.kr
(END)
Source: Yonhap News · Kim Eun-jung
At a glance
- Topic
- World
- Country
- 🇰🇷 KR
- Publisher language
- EN
- Added to Allnira