Seoul: Samsung Heavy Industries Co. on Friday reported its second-quarter net income of 222.8 billion won (US$152 million), which marks a 4.9 percent increase from the same period last year.

According to Yonhap News Agency, the shipbuilder disclosed in a regulatory filing that its operating profit for the April-June period surged 58.7 percent on-year, reaching 325 billion won. Additionally, sales saw a significant rise of 20.4 percent, totaling 3.23 trillion won.

Despite these increases, the earnings did not meet market expectations. Analysts surveyed by Yonhap Infomax, the financial data arm of Yonhap News Agency, had estimated an average net profit of 278.8 billion won for the period.