Marine Link
Saturday, October 1, 2016

Nedlloyd Posts Loss

May 12, 2000

Dutch shipping firm Koninklijke Nedlloyd Groep NV posted a first-quarter net loss of $15.4 million, but said it expected full-year results from ordinary activities to be "clearly positive." The shipping and road transport group, which holds a 50 percent stake in the P&O Nedlloyd joint venture with Britain's P&O, said its losses equaled those in the first quarter of 1999 and were largely due to strength in the U.S. dollar versus the euro.

P&O Nedlloyd reported a first quarter pre-tax loss of $29 million versus a $36 million loss a year ago. "The figures are slightly better than expected, and they foresee some operational profit in the second quarter, but they say that nearly every year. But the share price hasn't really reacted to the figures," a trader said.

"We are confirmed in our view from P&O Nedlloyd's expectations of a significant improvement of the results in 2000, including a positive second quarter at operating level," it added. On Tuesday, P&O Nedlloyd announced that Tim Harris had resigned as director and chief executive. P&O director Robert Woods was appointed group managing director.



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News