Daewoo Shipbuilding's Q2 earnings up 12.6 per cent
Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipyard, said Tuesday that its second-quarter earnings increased 12.6 percent from a year earlier on rising demand for high-priced ships.
Net profit reached 115 billion won (US$113 million) in the April-June period, compared with a profit of 102 billion won a year earlier, the company said in a regulatory filing.
Sales climbed 52.3 percent to 2.63 trillion won, and operating income gained 152 percent to 189 billion won, according to the shipbuilder.
Shares of Daewoo Shipbuilding & Marine Engineering closed at 39,600 won on the Seoul bourse, up 3.66 percent.
Shipyards in South Korea, the world's largest shipbuilding nation, have won record orders over the past few years as demand for vessels to carry fuel and consumer goods has outstripped supply.
The shipbuilder has won orders valued at more than $10 billion so far this year, accounting for more than half of its yearly target of $17.5 billion worth of orders.
Net profit reached 115 billion won (US$113 million) in the April-June period, compared with a profit of 102 billion won a year earlier, the company said in a regulatory filing.
Sales climbed 52.3 percent to 2.63 trillion won, and operating income gained 152 percent to 189 billion won, according to the shipbuilder.
Shares of Daewoo Shipbuilding & Marine Engineering closed at 39,600 won on the Seoul bourse, up 3.66 percent.
Shipyards in South Korea, the world's largest shipbuilding nation, have won record orders over the past few years as demand for vessels to carry fuel and consumer goods has outstripped supply.
The shipbuilder has won orders valued at more than $10 billion so far this year, accounting for more than half of its yearly target of $17.5 billion worth of orders.