Daewoo Shipbuilding's Q2 revnues rise 79% on-year

DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., the world's No. 3 shipyard, said Thursday that its second-quarter earnings rose 79.5 per cent from a year earlier thanks to cost-cutting efforts and a stronger won. Net income came to 206 billion won (US$166.3 million) in the April-June period, compared with 115 billion won a year ago, Daewoo Shipbuilding & Marine Engineering said in a regulatory filing. Sales rose 23 per cent year-on-year to 3.23 trillion won, while operating profit fell 8.8 per cent to 172.8 billion won, it said.
Shares of Daewoo Shipbuilding & Marine Engineering closed up 3.38 per cent at 21,400 won on the Seoul bourse.