Wilh. Wilhelmsen’s 3rd-quarter net income down 10%

Wilh. Wilhelmsen’s 3rd-quarter net income down 10%    Norway-based Wilh. Wilhelmsen, a major shareholder in Wallenius Wilhelmsen Lines, American Roll-on/Roll-off, Eukor and Unitor, reported third quarter net income of $45 million, down 10 percent from the $50 million posted in the same quarter last year.
   Operating profits in the latest quarter declined 39 percent to $39 million from $64 million. Revenue jumped 31 percent to $603 million from $460 million.
   Wallenius Wilhelmsen Lines’ income was hampered by high bunker prices and charter costs, Wilh. Wilhelmsen said.
   “The third quarter was characterized by seasonal fluctuations because of summer holidays at car factories in Europe and a strike at Hyundai and Kia in Korea,” said Ingar Skaug, Wilh. Wilhelmsen’s chief executive. “Activity since 30 September has reached a high level.”
   For the year to date, Wilh. Wilhelmsen’s net income soared 43 percent to $173 million, compared to $121 million after the first nine months 2004. Operating income increased 6 percent to $165 million from $155 million. Revenue rose 19 percent to $1.59 billion from $1.34 billion.