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Wilhelmsen bullish ahead of $105m pre-tax profit.
(From Lloyds List)
Byline: Prospects at car carrier 'very good in virtually all trades' despite subsidiary closure and high bunker costs, writes Jerry Frank
NORWEGIAN car carrier specialist and shipping service group Wilh. Wilhelmsen has almost tripled its pre-tax income this year as demand for its services from automotive manufacturers worldwide continues to drive strong profit.
The Oslo-based global liner and car carrier service booked a $105m pre-tax profit in the first nine months of this year compared with $51m a year earlier.
Wilh. Wilhelmsen said it expected to book strong demand for its services through to the end of the year, with 'prospects for the next few months very good in virtually all trades.'
This week the Norwegian group revealed that it will combine its ship management and agency businesses, Barber International and Barwil Agencies, together as one company from the New Year.
The major reorganisation of the service businesses as Wilhelmsen Maritime Services is set to cost the group $5m-$7m, and will be charged to the fourth quarter.
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