Hanjin Expects Profit

Thursday, February 08, 2001
South Korea's Hanjin Heavy Industries expects to post 2000 net profit of 12.8 billion won ($10.16 million) last year from 91.1 billion in 1999. Sales last year totaled 1.92 trillion won, up 22.9 percent from a year ago, and generated current profit, or earnings before taxes (EBT), of 11.3 billion won, it said in public notices to the Korea Stock Exchange. The company attributed the profit fall partly to an increase in shipbuilding costs and realization of asset re-evaluation loss from its subsidiary Korea Rolling Stock. - (Reuters)

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