Updated Saturday, August 11, 2007 0:00 am TWN, SEOUL, South Korea, AP

Hyundai Heavy second-quarter profit up on high ship prices

Hyundai Heavy Industries Co., the world’s largest shipbuilder, said Friday its second-quarter net profit more than doubled, surging to a record on higher prices for its vessels. Hyundai Heavy earned 417.5 billion won (US$449 million) in the three months ended June 30, the company said in a regulatory filing. Hyundai Heavy posted a profit of 192.4 billion won in the same quarter a year earlier.
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