HMM reports 2.6 trillion won net in third quarter
HMM reported a net profit of 2.6 trillion won ($1.9 billion) in the third quarter, up 13.3 percent on year and surpassing analyst expectations.
Analyst expectations compiled by FnGuide indicated the shipper would log a net profit of 2.44 trillion won.
It reported revenue of 5.1 trillion won, up 27.1 percent on year and surpassing expectations of 4.58 trillion won in revenue.
Operating profit rose 14.5 percent on year to 2.6 trillion won.
The shipper said high fuel costs ate into its profits, but it was still able to post growth due to rising shipping demand and achieving efficiency in its shipments.
BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]
with the Korea JoongAng Daily
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