EVERGREEN MARINE PREDICTS LOWER REVENUE, HIGHER PROFIT THIS YEAR

EVERGREEN MARINE PREDICTS LOWER REVENUE, HIGHER PROFIT THIS YEAR

   Evergreen Marine Corp., the publicly listed arm of Taiwan’s shipping, airline and hotel group Evergreen, predicts its revenues will fall 11 percent this year, but non-operating income will boost the company’s annual net profit.

   Operating revenues are predicted to decrease to NT$18 billion ($515 million), from NT$20 billion in 2000. Operating costs are also expected to drop, but the company predicted a lower operating income of NT$224 million ($6 million), down 83 percent from the NT$1.3-billion operating income for 2000.

   By contrast, non-operating income is predicted to increase to NT$3.3 billion ($94 million) this year, from NT$1.8 billion in 2000. Lower interest expenses of NT$1.4 billion ($38 million) are forecast this year, compared to the NT$1.5 billion of interest costs in 2000.

   Evergreen Marine Corp. forecast a net income of NT$1.8 billion ($51 million) for the current calendar year, up from NT$1.3 billion last year.