Hanjin Heavy posts Q1 net profit of $32.9mln

Hanjin Heavy Industries generated a net profit in the first quarter ended 31 March 2012 but revenue dipped, Seatrade Asia online reports. The South Korean shipbuilder posted net profit of KRW38.5bn ($32.9m) during the quarter. No comparative figure was available.

Revenue, however, fell 5% year-on-year to KRW605.8bn.

Hanjin Heavy could face difficulty in winning new orders amid the depressed global shipping market, but it can boost its profit margin when the market recovers, analysts noted.