Ulsan: Hyundai Heavy Industries (HHI) posted strong revenue and profit for the fourth quarter of 2010 on robust offshore and shipbuilding operations.
Fourth quarter revenue for the Ulsan-based company rose 20.6% both quarter-on-quarter and year-on-year to 6.43trn won ($5.77bn), HHI announced Thursday. Net profit came up to 1.06trn won, up 22.9% compared to the previous quarter and a jump of 47.1% against the same quarter in 2009.
During the fourth quarter, the number of new orders for the world's largest shipbuilder surged 60.3% year-on-year to 57 vessels worth $4.06bn, an increase of 814.6% year-on-year. With that achievement, HHI aims to increase its new shipbuilding orders to $26.6m, 54.8% higher than its estimated orders in 2010. [28/01/11]
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