Seoul: Samsung Heavy Industries Co. has announced a significant surge in its first-quarter net income, reaching 90.1 billion won (US$62.8 million) and marking a 1,055.1 percent increase from the same period last year.

According to Yonhap News Agency, the company also reported an operating profit of 123.1 billion won for the January-March period, representing a 58 percent rise from the previous year. Additionally, sales increased by 6.2 percent, totaling 2.49 trillion won. These results surpassed market expectations, as analysts had predicted an average net profit of 60.6 billion won based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.