Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipbuilder, said its net income soared nearly five-fold in January from a year earlier thanks to the construction of high-priced ships.
Net income came to 19.1 billion won ($20 million) during the month, compared with 3.9 billion won in January 2007, Daewoo Shipbuilding & Marine Engineering said in a regulatory filing.
Sales rose 43.1 percent on-year to 696.6 billion won in January and operating profit more than tripled to 41 billion won, it said.
"The main reason behind the strong January performances was the brisk construction of high-priced ships ordered in 2004," a company official said.