Subscribe to RSS feedHanjin sees profit soaring by 123%
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Obsidian
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last modified
Feb 12, 2009 12:00 AM
Hanjin Shipping, South Korea's largest shipping company, announced improved full-year 2008 business results last week, despite the fourth-quarter downturn in freight rates.
Hanjin said the company reaped a 2008 net profit of Won321.4bn (US$231m), up 122.7% on 2007's Won144.3bn.
The company's profit was earned from total sales of Won9.4trn and an operating profit of Won335.4bn.
Higher freight rates for most of...
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