(LEAD) Samsung Heavy Industries Q3 net profit more than triples on high-value-added ships

South Korean shipbuilder Samsung Heavy Industries reported a more than tripling of its third-quarter net profit on Thursday, fueled by robust sales of high-value-added vessels. The company's net profit for the July-September period reached 470.8 billion won (US$352.4 million), a staggering 235.6 percent increase compared to the same period last year. Operating profit also surged 42.1 percent year-on-year to 338.4 billion won, while revenue grew 19.6 percent to 3.15 trillion won.

Despite fewer working days due to summer vacations and fall holidays, Samsung Heavy Industries managed to maintain a healthy operating profit margin of 10.7 percent. This was made possible by increased production of high-value-added vessels. The company has secured orders worth US$12.4 billion for 48 vessels, including 20 liquefied natural gas (LNG) carriers and two floating LNG facilities, which have already accounted for 89 percent of their annual order target.