3rd quarter profits up 1,124% for HMM

Hyundai Mer-chant Marine (HMM) an-nounced on November 15 that it recorded 303.6 billion won in net profit for the 3rd quarter of 2004, a 1,124% increase as compared with the same period of last year.

According to HMM, sales were 3.7601 trillion won for the 3rd quarter, which increased 29% as compared with the same period of last year, and business profit recorded 445.2 billions won, an increase of 105% as compared with last year. These results are the best since the opening of the company.

Also, net profits recorded 303.6 billions won in the 3rd quarter, increased 1,124% as compared with the same period of last year. HMM? financial structure improved because their debt ratio decreased from 437% to 364% at the end of the 2nd quarter.

HMM recorded 1.3119 trillion won in sales in the 3rd quarter, which increased 28% as compared with the same period of last year, and 184.7 billion won business profit, increased 58% as compared with the same period of last year. And it recorded 132.2 billion won in net profit, an increase of 14%.

Also, sales increased 4%, business profits increased 37% and net profits increased 91% in the 3rd quarter, as compared with the previous quarter.

President Roh Jeong Ik said to stockholders on November 15, ?e brought in some good results thanks to prosperous conditions in the market and strengthening domestic and overseas operations in this 3rd quarter.