South Korean ocean carrier HMM has said that its third-quarter revenue decreased by 58% to US$1.6 billion, reports Container News.
At the same time, the company’s operating profit was US$57 million, with a margin of 3.6% and net profit reached US$72 million with a margin of 4.5%.
Container demand under downward pressure
HMM said it maintains profits in an unfavourable market situation for the cumulative nine-month period. The revenue and operating profit came to US$4.8 million and around US$410 million, respectively, while the company’s net profit reached US$530 million.
The shipping company said, “Container demand is expected to be under downward pressure with no encouraging sign of restoring desire for consumption. This prediction originated from considerable uncertainties mainly related to widespread inflation, economic slowdown and geopolitical tensions.”
HMM pointed out it will focus on various cost-cutting measures and enhance operational efficiency to make its business competitive amid market volatility and uncertainties.
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe!
Source: Container News
Marvelous, what a blog it is! This webpage provides valuable facts to us,
keep it up. I saw similar here: Sklep internetowy
Hi my friend! I want to say that this article is awesome,
great written and include almost all vital infos. I’d like to peer extra
posts like this . I saw similar here: E-commerce
What i do not understood is actually how you’re no longer actually a lot more
neatly-appreciated than you might be right now. You are
very intelligent. You understand therefore significantly
with regards to this subject, made me personally consider it from so many varied angles.
Its like women and men aren’t interested except it’s one thing to accomplish
with Woman gaga! Your own stuffs excellent. At all times maintain it up!
I saw similar here: dobry sklep and also here: e-commerce
Wow, wonderful blog layout! How long have you been blogging
for? you make blogging look easy. The entire look of your site is fantastic,
as smartly as the content material! You can see similar: najlepszy sklep and here dobry sklep