DSME Bounces Back with USD 1 Bln Profit in Q2

 

According to a report in Yonhap, it posted a profit for the second straight quarter in the second quarter, largely thanks to cost-cutting measures and increased delivery of offshore facilities. The sales for the first half of the year amounted to KRW 6.1 trillion (USD 5.4 billion).

 

The shipbuilder logged an operating income of 5 billion won in the second quarter, widening from an operating income of 223 billion won three months earlier.

 

DSME also reported improved financial structure reaping fruit from debt restructuring. The shipbuilder is hard pressed to implement self-rescue measures worth 5.3 trillion won through 2018. It has already sold off noncore assets and cut its workforce, through which it has raised or saved 1.8 trillion won.