Samsung Heavy Industries Q1 net profit up 11.1 pct to 100.1 bln won

Samsung Heavy Industries-Q1 earnings

Samsung Heavy Industries Q1 net profit up 11.1 pct to 100.1 bln won

SEOUL, April 30 (Yonhap) -- Samsung Heavy Industries on Thursday reported its first-quarter net profit of 100.1 billion won (US$67.5 million), up 11.1 percent from a year earlier.

The company, one of South Korea's top shipbuilders, said in a regulatory filing that it posted 273.1 billion won in operating profit for the quarter, compared with 123.1 billion won a year ago. Sales also rose 16.4 percent to 2.9 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 251.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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