Wilh. Wilhelmsen’s 1st-quarter income rises 40%
Norway’s Wilh. Wilhelmsen, a major shareholder in Wallenius Wilhelmsen Logistics, American Roll-on/Roll-off, Eukor and Unitor, today reported first quarter net operating profit of $74 million, up 40 percent from the $53 million posted in the same quarter last year.
Operating income for the quarter jumped 30 percent to $622 million from $480 million.
“This performance reflects continued good progress for the transport of cars, high and heavy cargoes and non-containerized cargo in the most important trades,” Wilh. Wilhelmsen said.
“The market is strong and volumes are expanding, particularly in Asia,” said Ingar Skaug, Wilh. Wilhelmsen’s chief executive. “We can make more efficient use of our fleet as 42 planned newbuildings come into service over the next few years.”
The company said it expects to beat last year’s $232 million operating profit in 2006.