P&O Nedlloyd see profits grow

P&O Nedlloyd has seen encouraging results in its second quarter financial breakdown. Operating profit for the second quarter was US$46 million, an improvement of $2 million compared with the same quarter last year. (8/23/2001)

Total operating profit for the first half of 2001 came to $77 million, an improvement of $47 million compared with the first half of last year.

Overall volumes for the second quarter of 2001 were 4 per cent higher than for the second quarter of 2000. This included a reduction of 3 per cent on the Europe/Asia trades.

This compares with the steady growth in the preceding five years and reflects weaker demand in Europe, particularly Germany. Volumes on P&O Nedlloyd’s other trades were satisfactory. Overall load factors were 80 per cent in the second quarter of this year, in line with the first quarter and about 5 per cent down on the second quarter of last year.

The average revenue rate for the second quarter of 2001 was slightly up on the same period last year but 4 per cent down on the first quarter of 2001. Unit costs remained in line between the second quarter of 2000 and the corresponding period this year.

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Author:Newsdesk, eyefortransport.com