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South Korea’s major shipbuilders, including Hyundai Heavy Industries, may report poorer-than-expected earnings for the second quarter of the year, as they delivered more low-priced ships, data showed Sunday.
Hyundai Heavy is expected to have logged an operating income of 25 billion won during the April-June period, a sharp plunge of 91.4 percent from a year earlier, and Samsung Heavy Industries may report 187 billion won in operating income, also 35 percent down from a year earlier, according to the data.
Daewoo Shipbuilding’s second-quarter operating income is estimated at 125 billion won, also down 1.79 percent from a year earlier, they showed.
“Their business performance may not improve sharply this year due to delivery of low-priced ships,” Lee Kang-rok, an analyst at KTB Investment & Securities, said. “Adding to this, there are fewer new orders, which is putting pressure on their stock prices.” (Yonhap)
Hyundai Heavy is expected to have logged an operating income of 25 billion won during the April-June period, a sharp plunge of 91.4 percent from a year earlier, and Samsung Heavy Industries may report 187 billion won in operating income, also 35 percent down from a year earlier, according to the data.
Daewoo Shipbuilding’s second-quarter operating income is estimated at 125 billion won, also down 1.79 percent from a year earlier, they showed.
“Their business performance may not improve sharply this year due to delivery of low-priced ships,” Lee Kang-rok, an analyst at KTB Investment & Securities, said. “Adding to this, there are fewer new orders, which is putting pressure on their stock prices.” (Yonhap)
