DSME profits surge

Seoul: Daewoo Shipbuilding & Marine Engineering's profits surged last year due gains from affiliates and currency related gains. DSME, South Korea’s third largest shipbuilder, reported a Won578bn ($493m) profit last year last year compared to a profit of Won402bn in the previous year. The shipbuilder’s revenues jumped 12% to Won12.4trn last year. DSME said previously it expects to win $10bn worth in new orders in 2010 with sales of Won12.4trn. [08/02/10]