On the 30th, HD Korea Shipbuilding & Offshore Engineering(009540) is strong. It appears investor sentiment was lifted after results beat market expectations the previous day.
As of 9:25 a.m. that day, HD Korea Shipbuilding & Offshore Engineering is trading at 368,500 won on the Korea Exchange, up 33,500 won (10%) from the previous session.
The previous day, HD Korea Shipbuilding & Offshore Engineering disclosed that on a consolidation basis for the second quarter it posted revenue of 8.927 trillion won and operating profit of 1.6451 trillion won. Those rose 20.2% and 72.5%, respectively, from a year earlier.
Revenue and operating profit topped the securities consensus compiled by FnGuide—8.6329 trillion won and 1.4211 trillion won—by 3.4% and 15.8%, respectively.
By business division, the shipbuilding division recorded revenue of 7.451 trillion won and operating profit of 1.3986 trillion won, up 19.1% and 73.6%, respectively, from a year earlier. The gains reflect higher construction productivity and increased recognition of revenue for vessels won in the past at higher prices.
In the engine and machinery division, revenue fell 1.8% to 760.2 billion won, but operating profit rose 33.6% to 268.6 billion won on strong sales of eco-friendly engines. In the offshore plant division, as major projects moved into full swing, revenue came to 377.1 billion won with operating profit of 60.1 billion won.