MOL UPGRADES RESULTS FORECASTS
Mitsui O.S.K. Lines has revised its first half and fiscal year financial forecasts due to better-than-expected financial results and significant progress on the line's three-year management plan.
For the six-month period ending Sept. 30, MOL's projected consolidated net income of 4 billion yen ($3.7 million), a 300-percent increase over its original forecast. Projected revenues were scaled back 1.1 percent to 435 billion yen ($4.0 billion).
For the fiscal year ending March 31, net income projections were raised 200 percent to 6 billion yen ($55.6 million), compared to 8.3 billion yen for the previous fiscal year. Projected revenues remained at 880 billion yen for fiscal year 2000, compared with 881.8 billion yen in fiscal 1999.