The world’s largest shipbuilder posted deficit of KRW 125.2bn ($117m) for the three months to the end of March versus the KRW 91bn loss seen a year ago.
Operating loss also widened to KRW 192.4bn from KRW 22.3bn due to the booking of KRW 161.4bn in retirement bonuses and cost overruns because of construction delays.
But the shipbuilder said the industrial plant and engineering division turned profitable and so did its refinery business.
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