• ITVI.USA
    15,536.540
    74.080
    0.5%
  • OTLT.USA
    2.754
    0.002
    0.1%
  • OTRI.USA
    20.490
    -0.180
    -0.9%
  • OTVI.USA
    15,507.170
    69.970
    0.5%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
  • ITVI.USA
    15,536.540
    74.080
    0.5%
  • OTLT.USA
    2.754
    0.002
    0.1%
  • OTRI.USA
    20.490
    -0.180
    -0.9%
  • OTVI.USA
    15,507.170
    69.970
    0.5%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
American Shipper

P&O NEDLLOYD RAISES PROFIT IN 2ND QUARTER

P&O NEDLLOYD RAISES PROFIT IN 2ND QUARTER

      P&O Nedlloyd Container Line reported an improvement in its profit for the second quarter, following losses in the first quarter.

   Operating profit for the latest quarter was $44 million, compared to an operating loss of $18 million in the second quarter of 1999 and a loss of $14 million in the first quarter of the current year.

   “Despite significantly higher fuel prices it was the most profitable second quarter since P&O Nedlloyd commenced trading,” a spokesman for the Anglo-Dutch carrier said. P&O Nedlloyd was formed at the end of 1996 through the merger of P&O Containers and Nedlloyd Lines.

   Pre-tax profit for the latest quarter was $28 million, as compared to a loss of $32 million in the year-earlier period.

   Revenue was $1 billion, 14 percent more than the $888 million in revenue a year earlier.

   P&O Nedlloyd carried 762,200 TEUs in the latest quarter, up by eight percent. Revenue per TEU increased by 5 percent over the same period, to $1,324, from $1,258.

   P&O Nedlloyd reported “solid growth in volumes in all key trades” and said that its cost savings program was on track.

   “The outlook is positive, with a significant improvement in profits expected for this year,” the carrier said.

   For the first six months of the year, operating profit was $30 million, as compared to an operating loss of $40 million in the year-earlier period. The pre-tax result was a loss of $1 million, compared to a loss of $68 million. Revenue for the six-month period was $1.91 billion, up from $1.72 billion.

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