HHI boosts quarterly profit by 62%

Seoul: Hyundai Heavy Industries Co., the world's largest shipbuilder, boosted third-quarter profit by a more-than-estimated 62 percent as it built more offshore platforms and power plants. Net income climbed to 863.4 billion won ($768 million) from 533.8 billion won a year earlier, the Ulsan, South Korea-based company said in a regulatory filing.
The company aims to win $17.7 billion worth of contracts for vessels, plant construction and other items this year, compared with $10.7 billion in 2009. Of that total, orders for ships may reach $4.03 billion this year, from $444 million in 2009, the company forecast in December. [29/10/10]