HMM-Q3 earnings
HMM's Q3 net rises 13.3 pct despite industry slump concerns
SEOUL, Nov. 9 (Yonhap) -- HMM Co., South Korea's top container shipper, said Wednesday its third-quarter earnings rose more than 13 percent on-year despite worries about an industry slump.
Consolidated net profit came to 2.61 trillion won (US$1.91 billion) in the July-September period, up 13.3 percent from a year earlier, the company said in a regulatory filing.
Sales surged 27.1 percent on-year to 5.11 trillion won, with operating profit climbing 14.5 percent to 2.6 trillion won.
HMM said the company fared well in the third quarter thanks to a favorable market situation and efforts to improve profitability in spite of such negative factors as high oil prices and falling freight rates.
Shares in HMM ended 0.73 percent down at 20,500 won on the Seoul bourse, underperforming the broader KOSPI's 1.06 percent gain. The earnings report was released after the market closed.
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