Samsung Heavy Industries Records 33% Revenue Rise

3 February 2011 (Last Updated February 3rd, 2011 18:30)

South Korean shipbuilder Samsung Heavy Industries' earnings rose 32.6% in 2010 compared with 2009. The increase was attributed to high orders for drill ships. Samsung Heavy said it made a net income of $796m in 2010, an increase of $59.7m on the previous year. The shipbui

South Korean shipbuilder Samsung Heavy Industries' earnings rose 32.6% in 2010 compared with 2009. The increase was attributed to high orders for drill ships.

Samsung Heavy said it made a net income of $796m in 2010, an increase of $59.7m on the previous year.

The shipbuilder's operating profits went up by 25.7% to $88.8m, while sales slipped 0.3%.