Samudera's net profit up 79 per cent year-on-year

SAMUDERA Shipping Line of Singapore has announced a net profit of US$12.6 million for 2002, up 79 per cent from $7 million in the same period in 2001.

The company said lower charter hire costs and port charges helped it to boost its earnings.

The line said its turnover slipped 1.3 per cent to $491.2 million, and earnings per share jumped to 2.76 cents from 1.54 cents in 2001.

The company declared a dividend of $0.5 cent per share.