DSME profit fall

Daewoo Shipbuilding and Marine Engineering (DSME) has reported a 75.5% fall in operating profits to 27 billion won in the third quarter of the year. DSME marked 1.14 trillion won in turnover in the quarter, up 7.9% from a year ago, while ordinary profits plunged 66.8% to 56.6 billion won and net income dropped 65.1% to 41 billion won.

The shipbuilder attributed its poor results to recent steep changes in the Korean won?s appreciation against the dollar and rises in raw material prices.