MITSUI O.S.K.’S OPERATING PROFIT UP 14%

MITSUI O.S.K.’S OPERATING PROFIT UP 14%

   Mitsui O.S.K. Lines reported a 14-percent jump in its group operating
profit, to 53.5 billion yen ($444 million), for the fiscal year ending
March 31.
   The result compared with an operating profit of Yen47.2 billion for
fiscal year 1997-98.
   Revenue decreased 3 percent in the latest financial year, to Yen809.2
billion ($6.72 billion), from Yen834.9 billion.
   Net income dropped by 17 percent, to Yen7.0 billion ($58 million), partly
due to exceptional charges.
   MOL said that its liner shipping business had improved results, but
tramp and specialized bulk carrier services were affected by a weak market.
Car-carrying activities benefitted from steady cargo movements.