South Korean ocean carrier HMM’s second-quarter net profit plunged 89% year over year.
HMM provides little color in its earnings releases and reports in South Korean won. It reported Thursday that Q2 net profit was KRW 313 billion ($238 million), compared to KRW 2.9 trillion ($2.2 billion) in the second quarter of 2022.
Operating profit plummeted 95% year over year, from KRW 2.93 trillion ($2.2 billion) to KRW 160 billion ($121.8 million). Revenue dropped 58%, from KRW 5.03 trillion ($3.8...
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