Monday, July 11, 2011

Hyundai continues hyper-growth



South Korea's Hyundai Heavy Industries is forecast to continue improving business results in the second quarter.
Increase in penning new orders for offshore plants and other newbuildings, such as drillships, FPSOs, LNG carriers and containerships, has boosted Hyundai's performance.

According to Yonhap Infomax, sales and operating profit of Hyundai are estimated to be around KRW 6.48trn ($6.17bn) and KRW 950bn each for the second quarter, up 21.5% and 23.3% each from the same period a year earlier.

On K-IFRS stand-alone basis, revenue and operating profit are estimated at about KRW 6.63trn and KRW 978bn each, which also increased 24.2% and 26.9% each from the same period a year earlier.  

Meanwhile, Seoul-based Dongbu Securities has put Hyundai's Q2 sales at about KRW 12.8trn and operating profit at KRW 1.56trn, on K-IFRS consolidated basis.





Published : July 11, 2011

Source: Asiasis
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