US naval shipbuilder Huntington Ingalls Industry (HII) released results from its 2018 financial year on 14 February, reporting annual sales growth of almost 10%. Revenues generated by the company in the 12 months to 31 December 2018 rose to USD8.2 billion, while its operating income increased by 7.9%, to USD951 million.
Although revenue growth was strongest in HII’s largest business unit, Newport News Shipbuilding, the segment’s operating income fell by more than 10%. Newport News accounted for USD4.7 billion, or 58%, of the company’s sales last year.
The smaller of HII’s shipbuilding units, Ingalls Shipbuilding, increased its sales by 7.7% in 2018, and maintained annual income at the same level as the previous year.
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