P&O Nedlloyd has chalked up a solid improvement in profits for the second quarter running. The company, whose third quarter results were up by 70% compared to last quarter's, reported an operating profit of $75 million before tax.
This is also a $59 million improvement on last year's third quarter results, and is ascribed to positive developments in volume, revenue and cost savings. Total throughput increased by 3% to 786 700 TEUs, to give the largest volume ever carried in one quarter by the company.
This result was achieved despite rising fuel costs, says P&O Nedlloyd South Africa managing director, Nigel Pusey.
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