Samsung Heavy Industries Reports 100.6% Increase in Q3 Net Income

Seoul: Samsung Heavy Industries Co. announced a significant rise in its third-quarter net income, reporting a 100.6 percent increase to 71.4 billion won (approximately US$51.7 million) compared to the same period last year. According to Yonhap News Agency, the company's regulatory filing revealed an operating profit of 119.9 billion won for the third quarter, up from 75.9 billion won a year prior. The company's revenue also saw an increase, climbing 14.7 percent to reach 2.32 trillion won. The operating profit exceeded the average market estimate by 11.1 percent, based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, the estimate for net profit was not provided in the survey.