Hyundai Mipo's Q2 profits plunge

Hyundai Mipo Dockyard’s profits plunged 75.6% in the second quarter of the year, Seatrade Asia online reports.

The Korean Stock Exchange-listed yard said its net profit for the second quarter of 2012 was KRW21.64bn ($19.06bn) compared to KRW88.58bn in the same period a year earlier. The shipbuilder reported revenues of KRW1.06trn for the second quarter, down 6.4% year-on-year.