KSS Line on the up

KSS Line, a Korean carrier, announced it marked eye-opening financial results in the second quarter 2012.

The company measured its provisional second quarter operating profit reached KRW 4.634 billion, soaring 82.4% from KRW 2.54 billion compared with the same period last year. The operating figure also grew by a whopping 90% compared with the first quarter.

KSS Line also recorded KRW 1.799 billion of net profit, up by 46% against KRW 1.232 billion the year before. But the carrier saw KRW 4.709 billion of net profit in the first quarter, so it decreased by 61.8% during 3 months.

The gas carrier shipping company noted that revenue increased to KRW 28.569 billion, or 32.3%, from KRW 21.597 billion in 2Q 2011. The revenue in 1Q was KRW 26.181 billion, thus KSS Line increased by 9.1% in three months.

Meanwhile, the Seoul-flagged carrier has decided on some new investments. KSS Line is looking to acquire 84,000 cbm of VLGC ship to secure vessel and sales capacity. < 김보람 기자 brkim@ksg.co.kr >