Daewoo Shipbuilding earnings sink by 82 percent last year

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Daewoo Shipbuilding earnings sink by 82 percent last year

Daewoo Shipbuilding & Marine Engineering said yesterday that its earnings plunged 82 percent last year from a year earlier because it built more low-priced vessels.

Net profit reached 137 billion won ($126 million) last year, compared with 743 billion won reported a year earlier, the company said in a regulatory filing.

Sales gained 2.5 percent on-year to reach 12.57 trillion won last year, while operating income sank 55.4 percent on-year to 452 billion won, it said. Yonhap

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