Samsung follows upward trend, Daewoo falls back

Seoul: Korea's second and third largest yard groups have posted sharply contrasting results for the third quarter to end September. Samsung Heavy Industries followed the improving trend already declared by STX Shipbuilding (see earlier story), with a net profit up 36.1% from a year ago as a result of increased ship prices and productivity. But Daewoo Shipbuilding & Marine Engineering saw net losses widen to Won 70bn from Won 19bn a year ago, despite a sales volume up from Won 1.05trn to Won 1.44trn.  [15/11/06]