HD Korea Shipbuilding & Offshore Engineering Co. has reported a remarkable financial performance for the third quarter, achieving a sharp rise in both profit and revenue. The company’s strong operational efficiency and increased demand in the global shipbuilding market have contributed to this surge.
Major Jump in Profit and Revenue
According to a regulatory filing released on Monday, the company recorded a net profit of 876.7 billion won (US$614.3 million) in Q3, marking a 397% increase from the same period last year. Operating profit climbed to 1.05 trillion won, up from 398.4 billion won a year earlier, while total revenue rose by 21.4%, reaching 7.58 trillion won.
Performance Exceeds Market Expectations
The company’s operating profit exceeded market forecasts by 11%, based on data from Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the average estimate for net profit was not disclosed. The stronger-than-expected results reflect the company’s improved cost management and steady progress in fulfilling high-value orders, especially in eco-friendly ship segments.
HD Korea Shipbuilding’s impressive third-quarter results underscore its leading position in the global shipbuilding industry. With solid revenue growth and operating profits surpassing expectations, the company continues to demonstrate resilience and competitiveness amid fluctuating market conditions and growing global demand for sustainable vessel solutions.
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Source: YONHAP NEWS AGENCY
