Mike Grinter, Hong Kong - Tuesday 12 May 2009
DAEWOO Shipbuilding and Marine Engineering, the world’s third largest shipbuilder, released worse than expected first quarter results today.
DSME said net profit increased 23% year-on-year to Won96bn ($77.2m) in the first quarter but operating profit was squeezed by high-priced raw material prices and sustained an 8.9% fall to Won153m.
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