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Samsung Heavy Industries books big deficit in 2015

After a few quarters in the red, Samsung Heavy Industries has finally shaken off the oil crisis and ends the year with a profit in the fourth quarter of almost USD 25 million. However the full-year result, as expected, came to a significant deficit with a hard-hit revenue.

Photo: Lee Jin-man/AP/POLFOTO/arkiv

Samsung Heavy Industries did not avoid the impact of the offshore crisis, but the shipbuilder was able to present a result for the fourth quarter 2015 of USD 25 million as well as a revenue of USD 2.67, reports Korean newspaper Korean Joongang Daily.

The development is positive considering the fact that Samsung Heavy Industries has specialized in supplying the offshore industry, which has notoriously stopped almost all investment activity after the oil price took a drastic dive.

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