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HMM anticipates record Q3 profits

HMM anticipates record Q3 profits

Seoul: Hyundai Merchant Marine announced its earnings guidance for the third quarter, saying it expects to report a record operating profit of 297.6 billion won ($263.3 million). HMM also said it expects sales to reach 2.2 trillion won during the same period
The figures represent a huge swing for the company. Year-on-year operating profit jumped from a loss of 240.6 billion won in the same period last year, and sales jumped 56 percent from 1.4 trillion won. ?Compared to the second quarter, operating profits jumped 90.7 percent from 156.1 billion won, as sales increased by 8.8 percent from 2 trillion won.?HMM said that the main reason for its success in the third quarter was the rise in demand for container shipping, and the extra charges it cashed in on during the peak season.  [18/10/10]


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