CP SHIPS SEES BOOST IN 4TH-QUARTER, YEAR-END EARNINGS

CP SHIPS SEES BOOST IN 4TH-QUARTER, YEAR-END EARNINGS

   CP Ships, the parent company of Canada Maritime, Cast, Lykes, Contship, TMM Lines and Australia New Zealand Direct Line, reported fourth-quarter net income up 81.1 percent, to Canadian $65.2 million ($43.0 million).

   Revenues improved 41.1 percent to Can $1.04 billion ($686.2 million), while operating income rose 48.9 percent to Can $74.9 million ($49.4 million.

   For calendar year 2000, CP Ships reported net income of Can $206.5 million ($136.3 million) up, 142.4 percent over 1999. Revenues improved 40.0 percent to Can $3.92 billion ($2.59 billion), while operating income rose 95.4 percent to Can $252.3 million ($166.5 million).