DSME Makes Further Gains

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has posted another quarter of profits following its return to share trading in late 2017. The shipbuilder said on 15 May that its net profits in the first quarter of 2018 were KRW226.3 billion (USD210 million), while its total quarterly sales were KRW2.256 billion. These figures are down...

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has posted another quarter of profits following its return to share trading in late 2017.

The shipbuilder said on 15 May that its net profits in the first quarter of 2018 were KRW226.3 billion (USD210 million), while its total quarterly sales were KRW2.256 billion.

These figures are down 3% and 17% respectively compared to the same period in 2017, with DSME attributing the decline to the strength of the South Korean currency against the US dollar.

However, DSME also pointed to the new figures as further evidence of its re-expansion following several years of severe financial constraints caused by weakened commercial shipbuilding and energy sectors.

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Source: www.janes.com