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BCL Announces Financial Results for Year Ended 31st December 2005
Hamilton, Bermuda: May 2, 2006 - The Directors of Bermuda Container Line Ltd. today announced the earnings for the fiscal year ended 31st December 2005. Net earnings for the year were $3,439,000; $193,000 or 5.3% below the earnings in 2004. While the net earnings did decline, the full year decline was much lower than that reported for the six-month and nine-month periods due to an excellent fourth quarter. While full year revenue did increase marginally for both the BCL and SISL services, expenses, particularly fuel costs, increased at a faster rate.
It is anticipated that the Annual report for 2005 will be issued in early June and the Annual General Meeting is scheduled for Tuesday 27th June 2006.
Dividend: The Directors declared a dividend of 13c per share for the second quarter of 2006. This dividend is payable on the 19th May to shareholders of record as at 12th May 2006.