Hanjin (002320.KS) said on the 12th that it posted preliminary third-quarter revenue of 889.8 billion won ($620 million) and operating profit of 32.6 billion won on a consolidated basis. Revenue rose 11.3% from a year earlier, marking the company's highest quarterly figure on record. The company attributed the result to balanced growth across all of its business lines, including parcel delivery, port cargo handling and global operations.
Operating profit increased 5.8%, driven largely by higher cargo volumes in the port handling business, centered on the ports of Incheon and Pyeongtaek. Profitability in the global business also improved, supported by strong results at overseas units in the Americas, Hong Kong and Vietnam, despite higher fixed costs from the opening of new fulfillment centers.
"Overseas demand for Korean beauty products and industrial goods is growing, and with the global shopping season moving into full swing in the fourth quarter, we expect to set a record for annual revenue," a Hanjin official said. "We will focus on expanding the global network that supports Korean manufacturers and small business owners in entering overseas markets, and on strengthening our core business competitiveness to secure future growth drivers."