Matson’s 4th quarter operating profit up 5%

MatsonÆs 4th quarter operating profit up 5% Honolulu-based Alexander & Baldwin Inc. today reported that operating profit at its U.S.-flag operator Matson Navigation increased 5 percent in the fourth quarter to $30.1 million, up from $28.7 million in the same quarter in 2006.
   Matson's revenue in the three months improved 9 percent to $262.3 million, compared to $239.7 million a year before.
   Quarterly container volume for Hawaii was down 2 percent to 41,500 units while Hawaii automobile volume jumped 28 percent to 33,200 units. Matson's Guam container volume gained 15 percent to 3,900 units. Volume for the carrier's transpacific China service improved 2 percent to 13,200 units.
   For the year, Matson's operating profit was up 20 percent to $126.5 million with a 6 percent revenue gain to $1 billion.
   After 12 months, the carrier’s China volume was up 57 percent 51,200 units. Annual Guam container volume rose 8 percent to 14,600 units. Hawaii containers dropped 3 percent to 167,500 units, while automobiles to the island decreased 7 percent to 110,100 units.