HHI net profit rose 57% to 6.55 trillion won in 2Q

Hyundai Heavy Industries Co. (HHI) posted record profits in its second quarter.

HHI net profit rose 57 percent to 6.55 trillion won as of June 30. The company earned 417.5 billion won in the second quarter a year earlier, and 442.3 billion won in the first quarter of 2008.

Sales during the quarter rose 22 percent to 4.71 trillion won from 3.88 trillion won a year earlier.

Operating profit rose 49 percent to 547.5 billion won from 368.8 billion won.

In the first half of this year HHI received $19.8 billion in orders, consisting of 94 ships, marine engines, offshore platforms, and other products, a 62 percent increase from this point last year.

HHI has delivered 47 vessels worth a total of $5.06 billion over the first half of this year, 81 percent more than a year ago.

As of June 30, it had an order backlog of 380 ships valued at $42.5 billion.<Korea Shipping Gazette>