Hapag-Lloyd profits jump

GERMAN shipping and tourism company Hapag-Lloyd said net profit rose 14 per cent last year to 40 million marks (about HK$184 million), largely on the strength of tourism business.

Revenues increased three per cent to 3.9 billion marks. The dividend for last year will be raised to 11 marks from 10 in 1992.

The company said tourism division recorded substantial growth, ''which contributed decisively to earnings''.

Shipping business accounted for 52 per cent of earnings, while tourism represented 40 per cent. Hapag-Lloyd operates a charter airline and a travel agency.