WILHELMSEN AND WILSHIP POST LOWER PROFITS
Wilhelmsen Lines and Wilship, the two shipping divisions of the
Norwegian group Wilh. Wilhelmsen, reported lower profit results for 1998.
Net profit for Wilhelmsen Lines, the roll-on/roll-off operator, fell to
NKr438 million ($57 million), from NKr505 million, as gross revenue rose 8
percent, to NKr5.19 billion ($681 million), from NKr4.79 billion in 1997.
Wilship, the small bulk shipping unit of the group, posted a net loss of
NKr67 million ($9 million) for 1998, compared to a net income of NKr80
million in the previous year.
Gross revenue at Wilship decreased to NKr321 million ($42 million), from
NKr350 million in 1997.