Daewoo Shipbuilding Reports Operating Loss on Offshore Costs
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Daewoo Shipbuilding & Marine Engineering Co., the world’s second-biggest shipbuilder, posted a first-quarter loss after incurring more costs to finish some offshore projects.
The operating loss was 26.3 billion won ($23 million), it said in a regulatory filing Wednesday, while analysts projected profit of 5.54 billion won, according to the average of seven estimates compiled by Bloomberg. Daewoo Shipbuilding said it couldn’t provide a comparative figure as it is revising earnings dating back to 2013 at the request of its auditor.