S Korean Shipbuilder Samsung Heavy's Q3 net rises 22%

Samsung Heavy Industries Co., South Korea's No. 2 shipbuilder, said Tuesday that its third-quarter earnings rose 22 per cent from a year earlier on increased demand for high-priced offshore facilities. Net profit reached 222 billion won (US$188 million) in the July-September period, compared with a profit of 182 billion won a year earlier, the company said in a regulatory filing.
Sales increased 39 per cent on-year to a record 3.62 trillion won, and operating income surged 87 per cent to 266 billion won, it said.
Shares of Samsung Heavy closed at 23,150 won on the Seoul bourse, unchanged from the previous session's close. The third-quarter results were released after the market closed.