Hyundai Mipo Q2 net plunges 51.2 pct

SEOUL, Aug. 16 (Yonhap) -- Hyundai Mipo Dockyard Co., a unit of the world's biggest shipbuilder, Hyundai Heavy Industries Co., said Tuesday that its second-quarter earnings plunged 51.2 percent from a year earlier due to decreased orders.
Net profit came to 88.6 billion won (US$82.7 million) in the April-June period, compared with a profit of 181.6 billion won a year ago, the company said in a regulatory filing.
Sales rose 12.8 percent on-year to 1.17 trillion won over the cited period, while operating income fell 46.7 percent to 113.1 billion won, said Hyundai Mipo.
Hyundai Mipo said its first-half sales jumped 24.3 percent on-year to 2.37 trillion won but its net profit fell 25.2 percent from a year earlier to 235.4 billion won.
Shares of Hyundai Mipo closed up 3.76 percent at 138,000 won on the Seoul bourse on Tuesday.
brk@yna.co.kr