ACL’S 3RD-QUARTER PROFIT UP 49%
Grimaldi Group subsidiary Atlantic Container Line, reported a 48.8-percent increase in third-quarter net income to SEK 64 million ($6.0 million).
Operating income was SEK 755 million ($71 million), up 10.5 percent. Earnings before depreciation was SEK 151 million ($14.1 million), up 22 percent.
Cargo capacity utilization was 70 percent, and the average freight rate increased 5 percent. ACL said the westbound roll-on/roll-off trade remains strong but has weakened eastbound.
The year-to-date net profit of SEK 174 million ($16.3 million), including a non-monetary exchange loss of SEK 41 million ($3.8 million).
ACL said that, despite current economic uncertainty, the company expects its full-year results to be in line with last year’s.
Grimaldi currently owns 81.2 percent of ACL.