P&O Nedlloyd Results: Fourth Quarter 2001 (with link)

ROTTERDAM, The Netherlands, March 7, 2002 (PRIMEZONE) -- The attached information sets out the financial results, trade statistics and key points for P&O Nedlloyd Container Line Limited for the fourth quarter 2001. In general terms, the main points are:


 - P&O Nedlloyd made an operating profit for 2001 of $87 million
   (2000 $201 million);

 - in Q4 2001 it made an operating loss of $8 million before
   restructuring costs of $12 million;

 - average revenue rates fell by 5% compared to Q3 and by 13%
   compared to Q4 2000;

 - revenues in the industry will be down in the first half of 2002
   as a result of slower world trade growth and increased capacity;
   and

 - a major expansion and acceleration of cost savings programs to 
   achieve $350 million per annum by the end of 2003 compared to the 
   $200 million previously announced.

Link to complete press release including figures: http://reports.huginonline.com/851195/100564.pdf

P&O Nedlloyd Results: Fourth Quarter 2001 (with link)

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