Nedlloyd Buoyed By Sale

The ocean shipping division saw interim operating profit fall from Fl 48 million to Fl 8 million.

Although depressed by adverse currency movements, the current half was inflated by a Fl 46 million capital gain associated with the sale of ships.

When this is stripped out, and the losses examined on a quarter-on-quarter basis, the division moved from a 1996 first-quarter loss of Fl 44 million to a second-quarter profit of Fl 6 million.

Nedlloyd attributed this underlying Fl 50 million surge in ocean shipping to better efficiency,lower costs, and a slight improvement in volume sales and cargo mix. Rates remained