STX Group Sets Higher Sales Target

21 October 2010 (Last Updated October 21st, 2010 18:30)

STX Group has revised its sales target of KRW30tn ($27bn) for 2011, an increase of 30% compared with KRW25tn ($22bn) in 2010. The South Korean group expects improved earnings due to a rise in newbuild orders. The shipping firm, which owns more than 300 vessels, plans to ent

STX Group has revised its sales target of KRW30tn ($27bn) for 2011, an increase of 30% compared with KRW25tn ($22bn) in 2010.

The South Korean group expects improved earnings due to a rise in newbuild orders.

The shipping firm, which owns more than 300 vessels, plans to enter into the cruise ship business as part of its growth target, according to koreatimes.co.kr.