Hyundai Heavy Industries Co., Korea's leading shipbuilder, said Thursday that its third-quarter earnings dropped 30 percent from a year earlier mainly due to a slump in its non-shipbuilding businesses.
Net profit reached 432 billion won ($388 million) in the July-September period, compared with a profit of 618 billion won a year earlier, the company said in a regulatory filing.
Sales rose 11.3 percent to 5.9 trillion won over the cited period, while operating income plummeted 36 percent to 538 billion won, it said.
Shares of Hyundai Heavy closed at 306,000 won on the Seoul bourse, up 5.7 percent from the previous session's close. The third-quarter business results were released after the market closed.
The shipbuilder said it has orders worth $22 billion through September this year, up 58 percent from a year earlier, achieving 83 percent of its yearly order target of $26.6 billion. (Yonhap)