WILHELMSEN NET INCOME FALLS 71% FOR JANUARY-APRIL

WILHELMSEN NET INCOME FALLS 71% FOR JANUARY-APRIL

    Wilh Wilhelmsen reported a net income of $6 million for January-April, down 71 percent compared to the $21 million profit earned in the same period of last year.

    Net operating income was $12 million for the latest four-month period, as compared to $33 million in January-April 1998.
    The Scandinavian shipping group said that results from its Wilhelmsen Lines and Wilship arms were weak, while its Barber International and Barwil Agencies activities recorded good results.
    The Wilh Wilhelmsen group has changed the currency used to report its consolidated results from Norwegian krone to U.S. dollars.
    Wilhelmsen said that the planned roll-on/roll-off and car carrier joint venture between Wilhelmsen Lines and Wallenius Lines is expected to start operations on July 1.