Samsung earnings drop in first quarter

Mike Grinter, Hong Kong - Monday 11 May 2009

SAMSUNG Heavy Industries, the world’s second largest shipbuilder, revealed lower than expected earnings on the announcement of its first quarter 2009 results.

SHI said net earnings were down 12.1% year-on-year at Won102bn ($82.4m) compared with Won116bn during the same period in 2007. Net profit was 37.1% lower than the net profit recorded...

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