Hanjin Shipping Co. , South Korea's largest shipping line, said today that its second-quarter earnings increased 20 per cent from a year earlier on higher shipping rates.
Net profit reached 77 billion won (US$76.5 million) in the April-June period, compared with 64 billion won a year earlier, the company said in a regulatory filing.
Sales increased 36 per cent to 2.25 trillion won over the cited period and operating income more than quadrupled to 103 billion won, the shipper said.
Shares of Hanjin Shipping were trading at 35,400 won on the Seoul bourse as of 2:23 p.m., down 1.39 per cent.
The company also said it will spend 136 billion won to buy two bulk carriers.
Net profit reached 77 billion won (US$76.5 million) in the April-June period, compared with 64 billion won a year earlier, the company said in a regulatory filing.
Sales increased 36 per cent to 2.25 trillion won over the cited period and operating income more than quadrupled to 103 billion won, the shipper said.
Shares of Hanjin Shipping were trading at 35,400 won on the Seoul bourse as of 2:23 p.m., down 1.39 per cent.
The company also said it will spend 136 billion won to buy two bulk carriers.