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Car carrier boosted Wilhelmsen in first quarter

While revenue decreased, the Wilhelmsen group's result improved in the first quarter. On the bottom line, an ownership stake in a car shipping company in particular helped strengthen performance.

Photo: Presse

The first three months of the year brought a setback in revenue but growth on the bottom line for the Wilhelmsen group, shows the interim report from parent company, Wilh. Wilhelmsen Holding.

The Norwegian shipping group increased its operating profit to USD 34 million in the fourth quarter, from USD 15 million in the same quarter last year, while the result after taxes came to USD 29 million. However, revenue slipped 11 percent to USD 199 million, a development the Wilhelmsen group attributes to declining activity in the ship supply business area.

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