• ITVI.USA
    15,379.620
    -113.610
    -0.7%
  • OTLT.USA
    2.786
    -0.021
    -0.7%
  • OTRI.USA
    21.500
    -0.060
    -0.3%
  • OTVI.USA
    15,349.750
    -127.770
    -0.8%
  • TSTOPVRPM.ATLPHL
    3.300
    -0.240
    -6.8%
  • TSTOPVRPM.CHIATL
    2.950
    -0.020
    -0.7%
  • TSTOPVRPM.DALLAX
    1.440
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    3.310
    0.060
    1.8%
  • TSTOPVRPM.PHLCHI
    2.150
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    3.950
    -0.100
    -2.5%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,379.620
    -113.610
    -0.7%
  • OTLT.USA
    2.786
    -0.021
    -0.7%
  • OTRI.USA
    21.500
    -0.060
    -0.3%
  • OTVI.USA
    15,349.750
    -127.770
    -0.8%
  • TSTOPVRPM.ATLPHL
    3.300
    -0.240
    -6.8%
  • TSTOPVRPM.CHIATL
    2.950
    -0.020
    -0.7%
  • TSTOPVRPM.DALLAX
    1.440
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    3.310
    0.060
    1.8%
  • TSTOPVRPM.PHLCHI
    2.150
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    3.950
    -0.100
    -2.5%
  • WAIT.USA
    126.000
    1.000
    0.8%
American Shipper

P&O NEDLLOYD OPERATING PROFIT JUMPS 28%

P&O NEDLLOYD OPERATING PROFIT JUMPS 28%

    P&O Nedlloyd Container Line reported a 28-percent jump in
fourth-quarter operating profit, as the company ended its second year since
the merger of P&O Containers and Nedlloyd Lines.
    For the quarter ending Dec. 31, operating profit rose to $55 million.
Pretax profit was $21 million, after a break-even result a year earlier.
Revenue rose 5 percent to $882 million as volume rose 10 percent to 658,400 TEUs.
    P&O Nedlloyd said increased volume and cost-cutting more than
offset
reduced rates, higher interest costs and problems associated with Asia.
Average revenue per TEU was down by 4 percent, to $1,339.
    For the year, P&O Nedlloyd reported operating profit of $81
million,
compared to $73 million in 1997. The company’s pretax loss after
exceptional items in 1998 narrowed to $2 million from $74 million a year
earlier.
    Full-year revenue rose to $3.41 billion from $3.37 billion, and volume
increased to 2.49 million TEUs in 1998 from 2.32 million.

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