Samsung Heavy Trims Operating Loss for 2016
Samsung Heavy Industries (SHI), South Korea's second largest shipbuilder, has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction.
SHI ended the year with an operating loss of KRW 147.2 million (USD 126,200), against an operating loss of KRW 1.5 billion (USD 1.28 million) recorded a year earlier, the company said in a stock exchange filing.
Its net loss came to 139 billion won (US$119 million) last year, compared to a loss of 1.21 trillion won a year earlier.
Sales rose 7.2 percent on-year to 10.41 trillion won last year, while it suffered an operating loss of 147 billion won, sharply narrowing from an operating loss of 1.5 trillion won over the cited period.
