[Yonhap Photo]
SEOUL -- Samsung Heavy Industries, one of South Korea's three major shipbuilders, swung to a net loss in the second quarter of this year on increased costs and unexpected one-off losses caused by the delayed delivery of a drillship.
Samsung Heavy said in a regulatory filing Monday that it posted a consolidated net loss of 142.7 billion won ($126.3 million) in the April-June period, compared with a net profit of 22.7 billion won a year earlier.
In the April-June period, the shipbuilder reported an operating loss of 100.5 billion won, compared with a net profit of 20.6 billion won a year earlier. Sales slumped 41.4 percent to 1.34 trillion won.
Through restructuring, Samsung Heavy reduced its total borrowings to one trillion at the end of June from 3.1 trillion won in December last year.
reporter
Lim Chang-won
cwlim34@ajunews.com
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