Korea Shipbuilding & Offshore Engineering (KSOE) has reported a second-quarter operating profit of KRW 93bn ($77.8m) coming in 21% ahead of consensus estimates.

The company, which is the holding group for the Hyundai Heavy Industries Holdings shipyards, was buoyed by rising contributions from its LNG orderbook and write-backs of earlier provisions.

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Chief among these was a KRW 23.6bn