Daewoo Shipbuilding Q4 net rises more than five-fold

SEOUL, Feb. 2 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co., the
world's third-largest shipyard, said Monday that its fourth-quarter earnings
increased more than five-fold as it built more expensive vessels.

Net profit reached 293 billion won (US$210 million) in the October-December
period, compared with 53 billion won a year earlier, the company said in a
regulatory filing.
Sales jumped 69 percent to 3.67 trillion won over the cited period and operating
income also climbed more than five-fold to 567 billion won.
For all of 2008, Daewoo's net income climbed 25 percent to 401.7 billion won.
Sales rose 56 percent to a record 11.1 trillion won and operating income more
than tripled to 1.03 trillion won.
Shares of Daewoo Shipbuilding were trading at 21,450 won on the Seoul bourse as
of 10:50 a.m., up 3.37 percent.
sam@yna.co.kr
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