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오피니언
2010-05-19 13:53
HMM returns a profit in Q1
Hyundai Merchant Marine announced financial results for the first quarter of 2010.
Achieving KRW 1.75 trillion in sales and 11.6 billion in operating income, HMM displayed a significant turnaround. Compared to the fourth quarter of 2009, it scored an improvement of 11.8% in sales and returned a profit.
This turnaround is the result of maintaining maximum operational efficiency through cost-cutting plans and volume increase, as well as freight rate recovery in the containership sector, and the oil-tanker market recovery.
In addition, it is expected that operating income for April will surpass KRW 48.9 billion, the monthly average operating income of 2008—the year HMM achieved its highest-ever performance.
Kim Seong-Man, HMM President and CEO, observed, “It is expected that the recovery will gain additional momentum in the second quarter. We will strive to achieve our business goals for 2010, namely, sales of KRW 7.14 trillion and an operating income of KRW 336 billion.”<Korea Shipping Gazette>
Achieving KRW 1.75 trillion in sales and 11.6 billion in operating income, HMM displayed a significant turnaround. Compared to the fourth quarter of 2009, it scored an improvement of 11.8% in sales and returned a profit.
This turnaround is the result of maintaining maximum operational efficiency through cost-cutting plans and volume increase, as well as freight rate recovery in the containership sector, and the oil-tanker market recovery.
In addition, it is expected that operating income for April will surpass KRW 48.9 billion, the monthly average operating income of 2008—the year HMM achieved its highest-ever performance.
Kim Seong-Man, HMM President and CEO, observed, “It is expected that the recovery will gain additional momentum in the second quarter. We will strive to achieve our business goals for 2010, namely, sales of KRW 7.14 trillion and an operating income of KRW 336 billion.”<Korea Shipping Gazette>
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