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Sales skyrocket 25% at Hyundai Heavy

Nov 22,2007
Hyundai Heavy Industries, the world’s largest shipbuilder, said sales last month increased 25 percent as the company built more vessels to carry consumer goods at higher prices.
Sales increased to 1.4 trillion won ($1.5 billion) last month, compared with 1.1 trillion won a year earlier, the company said in a regulatory filing yesterday.
New orders for ships, engines and oil platforms fell 45 percent to $784 million.
In the first 10 months, sales climbed 26 percent to 12.7 trillion won, achieving 84 percent of the company’s annual 15.1 trillion won target. Orders more than doubled to $22.2 billion, exceeding its goal of $18.2 billion.
Bloomberg


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