Frontline To Seek NYSE Listing
Tuesday, November 07, 2000
Norwegian tanker group Frontline said on Tuesday strong charter rates boosted nine-month pre-tax profits to a record and that it was considering seeking a listing on the New York Stock Exchange. The company, the world's largest independent tanker operator, reported pre-tax profits of $133 million, swinging from a loss of $73 million in the same year-ago period. The operating profit swung to a profit of $193 million from a loss of $13.7 million, while earnings per share rose to $1.86 from a loss of $1.48 per share.
"This result reflects the strong tanker market that prevailed throughout the third quarter of 2000," Frontline said in a statement.