April 17, 2024
Industrials
Samsung Heavy’s net profit dips 82% in Q3
[THE INVESTOR] Samsung Heavy Industries said on Nov. 7 that its third-quarter net profit plunged 82 percent from a year earlier.
Net profit reached 23.4 billion won (US$21 million) in the July-September period, compared with a profit of 129 billion won a year earlier, the company said in a regulatory filing.
Operating income reached 23.6 billion won in the third quarter, sharply down from an operating income of 84.1 billion won a year earlier.
Its sales dropped 37 percent on-year to 1.75 trillion won over the cited period.
The shipyard said the weak bottom line was due to a decline in sales and operating income that resulted from the stoppage of some docks amid less orders.
By Alex Lee and newswires (alexlee@heraldcorp.com)
