STX Pan Ocean reports 47 pct rise in 2008 earnings

SEOUL, Feb. 11 (Yonhap) -- STX Pan Ocean Co., South Korea's biggest bulk-shipping
line, said Wednesday its net profit jumped in 2008 on higher shipping rates and
diversified business lines.
Net profit amounted to 578 billion won (US$410 million) last year, compared with
393 billion won a year earlier, the company said in a regulatory filing.
Sales rose 70 percent to 8.27 trillion won, and operating income surged 60
percent to 745 billion won, it said.
Shares of STX Pan Ocean were trading at 11,000 won on the Seoul bourse as of 9:20
a.m., unchanged from the previous session's close.
sam@yna.co.kr
(END)