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Merchant Hyundai swings to black in Q2
Hyundai Merchant Marine Co., South Korea’s No. 2 shipper, said that it swung to the black in the second quarter of the year from a year earlier on increased shipping rates.
Net profit reached 198 billion won (US$169 million) in the April-June
period, compared with a loss of 268 billion won a year earlier, the
company said in a regulatory filing.
Sales soared 43 percent to 1.43
trillion won over the cited period. The shipper posted an operating
income of 156 billion won in the second quarter, shifting from an
operating loss of 146 billion won over the period, it said.
Shares
of Hyundai Merchant closed at 32,850 won on the Seoul bourse, up 0.15
percent. The second-quarter business results were released before the
market closed.
Source: Asia Pulse
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