MATSON’s 4TH-QUARTER, FULL-YEAR EARNINGS IMPROVE

MATSONÆS 4TH-QUARTER, FULL-YEAR EARNINGS IMPROVE    Matson Navigation Co. Inc., the ocean transport subsidiary of Alexander & Baldwin Inc., reported fourth quarter operating profit of $19.8 million, an increase of 8 percent over the year earlier period.
   Fourth-quarter revenue was $216.1 million, up 2.1 percent.
   Matson's Hawaii container volume for the quarter was 5 percent below the year-earlier period, while automobile traffic improved 6 percent.
   For the full year, operating income improved 12 percent to $93.7 million, on revenue of $850.7 million, up 9.3 percent.
   Container volume for the year was slightly higher, while automobile volume improved 31 percent. The year's results were aided by the improved performance of Matson's terminal operating joint venture and its intermodal and terminal subsidiaries, A&B said.