Samsung Heavy Industries Q1 net profit down 16.1 pct to 7.8 bln won

Samsung Heavy Industries Co. on Friday reported its first-quarter net profit of 7.8 billion won (US$5.7 million), down 16.1 percent from a year earlier.Operating profit for the January-March period was 77.9 billion won, up 297.4 percent from a year ago, the company said in a regulatory filing. Revenue rose 46.3 percent to 2.34 trillion won.The operating profit was 13.9 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.Source: Yonhap News Agency