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BCL Announces Nine-Month Financial Results To September 2005 And Declares Dividends
Hamilton, Bermuda: 10th January 2006 - 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 2005 of $2,467,000, down $925,500 or 28% from the comparable period in 2004. The main reason for the decline in earnings was an increase in costs as consolidated revenue was only marginally behind the previous year. The third quarter was also adversely impacted by additional costs arising from the engine breakdowns of both the "Somers Isles" and the "Oleander".
Initial projections indicate that the fourth quarter of 2005 will be significantly better than the fourth quarter of 2004.
The Directors of Bermuda Container Line Ltd. at their meeting earlier today declared a special year end dividend for fiscal 2005 of 25 cents per share payable on the 17th February 2006 to shareholders of record as at 10th February 2006.
The Directors also declared a dividend for the first quarter of 2006 in the amount of 13 cents per share also payable on the 17th February 2006 to shareholders of record as at 10th February 2006.