(MENAFN) Samsung Heavy Industries proclaimed that its Q2 net loss narrowed 81.6 percent from a year earlier, as the shipbuilder cut costs to survive a decline in oil prices.
However, the firm posted a net loss of USD189.3mn for the April-June period, compared with a loss of USD0.001tr for the same quarter last year.
Additionally, the shipbuilder posted a loss of USD0.25bn for the cited quarter, compared with a loss of USD0.0013tr for the same quarter last year.
The company had proposed a USD0.0012tr self-rescue plan, involving stock sales and job cuts.
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