This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
BCL Announces Nine-Month Financial Results To September 2004 And Declares Dividends
Hamilton, Bermuda: 18 January 2005 - Bermuda Container Line Ltd. (BCL.BH) has informed the Bermuda Stock Exchange (BSX) of the following release:
Bermuda Container Line Ltd. is pleased to report net earnings for the nine months ended 30th September 2004 of $3,420,000, and increase of $516,000 from the comparable period in 2003. This increase in earnings was due to significant volume increases experienced by both the BCL service itself and also by the SISL service from Florida. Overall cargo volume for the nine-month period was up nearly 13.5% leading to an increase in gross freight revenue of over $3,000,000. Unfortunately, there were some significant cost increases which absorbed a great deal of this extra revenue.
The preliminary figures for the fourth quarter of 2004 show that cargo volume was flat in this quarter compared to the fourth quarter of 2003. Combined with the increased costs Directors do expect that net earnings in the fourth quarter of 2004 will be below those for the fourth quarter of 2003.
At their meeting held on Tuesday 19th January 2005 the Directors approved two dividend payments.
The first dividend is a special 2004 year end dividend of $0.50 per share payable on the 17th February 2005 to shareholders of record as at 10th February 2005. The second dividend is the regular dividend for the first quarter of 2005 in the amount of $0.12 per share payable on the 17th February 2005 to shareholders of record as at 10th February 2005.