Samsung Heavy Industries (SHI) posted a stronger second-quarter earnings as the shipbuilder is on track to exceed its annual orderbook target in 2011, Seatrade Asia online reports.Seoul-listed SHI racked in KRW260.3bn ($247.1m) of net profit in the second-quarter, up 10.1% compared to KRW236.4bn in the same period of 2010.
Revenue climbed by 5.4% to KRW3.15trn compared to KRW2.99trn in the corresponding period of last year.
In the first five months of this year, SHI has won orders worth $8.6bn, equivalent to 75% of its $11.5bn annual target for this year.
“It is likely to achieve more than its target this year given the remaining option for drillships, LNG FPSO top-side and hull orders from Royal Dutch Shell and additional orders for LNG carriers,” said Korea Investment & Securities in a report.
SHI had in March signed a contract with Shell for the supply of one unit of LNG-FPSO.
Revenue climbed by 5.4% to KRW3.15trn compared to KRW2.99trn in the corresponding period of last year.
In the first five months of this year, SHI has won orders worth $8.6bn, equivalent to 75% of its $11.5bn annual target for this year.
“It is likely to achieve more than its target this year given the remaining option for drillships, LNG FPSO top-side and hull orders from Royal Dutch Shell and additional orders for LNG carriers,” said Korea Investment & Securities in a report.
SHI had in March signed a contract with Shell for the supply of one unit of LNG-FPSO.