Hyundai Mipo Dockyard swings to red in Q2

Hyundai Mipo Dockyard-Q2 earnings

Hyundai Mipo Dockyard swings to red in Q2

SEOUL, July 27 (Yonhap) -- Hyundai Mipo Dockyard Co. on Thursday reported its second-quarter net loss of 34.9 billion won (US$27.4 million), swinging from a profit of 37.5 billion won a year earlier.

The company said in a regulatory filing that it continued to post an operating loss of 52.5 billion won for the April-June period, compared with a loss of 6.6 billion won a year earlier. Sales rose 10.5 percent to 1.03 trillion won.

The operating loss was 134.2 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

(END)

(C) Yonhap News Agency. All Rights Reserved