HHI’s Profit Slightly Up in Q3

South Korean shipbuilder Hyundai Heavy Industries (HHI) marked a marginal improvement in its business results for the third quarter of the year posting 2.1% higher profit year-on-year.

The net profit stood at KRW 197 billion against KRW 193 billion reported in the third quarter of 2016.

Operating income came at KRW 93.5 billion, down by 20.8 % when compared to the corresponding period from last year when the operating income totaled KRW 118.1 billion.

HHI’s sales were also down by 27.3 % year-on-year totaling KRW 3.8 trillion in Q3.

As informed earlier, HHI Group’s shipbuilding affiliates have so far this year won new orders for 110 ships worth USD 6.7 billion, 90% of the USD 7.5 billion annual target, the shipbuilder said.

World Maritime News Staff