WILHELMSEN NET INCOME FALLS 71% FOR JANUARY-APRIL
Wilh Wilhelmsen reported a net income of $6 million for January-April, down 71 percent compared to the $21 million profit earned in the same period of last year.
Net operating income was $12 million for the latest four-month
period, as compared to $33 million in January-April 1998.
The Scandinavian shipping group said that results from its Wilhelmsen
Lines and Wilship arms were weak, while its Barber International and Barwil Agencies
activities recorded good results.
The Wilh Wilhelmsen group has changed the currency used to report its
consolidated results from Norwegian krone to U.S. dollars.
Wilhelmsen said that the planned roll-on/roll-off and car carrier joint
venture between Wilhelmsen Lines and Wallenius Lines is expected to start operations on
July 1.
