HMM profits jump 39% in 2007

HMM profits jump 39% in 2007

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Hyundai Merchant Marine, South Korea’s second-largest container line, said Thursday that higher rates and volumes in the transpacific and Asia/Europe trades helped it achieve a 39 percent jump in net income in 2007 to 171 billion won ($180 million), compared with 123 billion won in the previous year.
   The Seoul-based company’s operating income last year more than tripled to 314 billion won, while revenue gained 7.6 percent to 5.09 trillion won.
   For 2008, the carrier is forecasting 387 billion won in operating income on revenue of 6.35 trillion won.