Seoul: Samsung Heavy Industries Co. has announced a significant increase in its third-quarter net profit, which reached 140.3 billion won (US$97.5 million), marking a 96.5 percent rise compared to the same period last year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter was 238.1 billion won, a substantial improvement from the 119.9 billion won recorded in the previous year. Additionally, sales experienced a 13.4 percent increase, totaling 2.63 trillion won.

The operating profit exceeded expectations, being 10.2 percent higher than the average estimate from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, the estimate for net profit was not provided.