P&O NEDLLOYD has ended the year strongly with a record operating profit of $201 million and profit before tax of $140 million, despite higher fuel costs of $150 million.
This is a major improvement compared to 1999 ($7 million), says P&O Nedlloyd managing director Nigel Pusey.
P&ON achieved an operating profit in Q4 of $96 million, which is $65 million up on 1999's fourth quarter and the strongest quarterly result since it began trading in 1997.
Pusey says: We ascribe these strong results to positive developments on volumes, rates and cost savings during 2000. Volumes and capacity were up 3% on Q3 2000; the largest volume ever carried in one quarter, bringing total throughputs for the year to over three million teus.
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