HJ Shipbuilding & Construction said on the 18th that it posted first-quarter consolidation sales of 541.4 billion won and operating profit of 24.6 billion won. Compared with a year earlier, sales rose 32% and operating profit jumped 350.7%.

Net profit was 25.5 billion won, up 359.2% from a year earlier. The operating margin increased to 4.5% in the first quarter from 1.3% in the first quarter of last year.

The improvement is seen as the result of the shipbuilding division, one of the two main businesses, as revenue began to fully reflect construction volumes for high value-added vessels, including eco-friendly container ships. First-quarter shipbuilding division sales were 268.6 billion won, up 69.9% from a year earlier. Operating profit was 22.3 billion won, up 3,422.3% from the same period a year ago.

In the construction division, first-quarter sales were 269.3 billion won, up 8.6% from a year earlier, but operating profit was 1.7 billion won, down 60.2% from the same period last year.

A HJ Shipbuilding & Construction official said, “With more than three years of stable order backlogs secured in both major business divisions, we will continue steady structural improvements and cost-structure innovation to maintain stable growth and focus on enhancing sustainable corporate value.”
Source: ChosunBiz