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Stevedoring Services Ltd. Announces Annual Results For Year Ending March 31st 1999.

13 13 1999

Hamilton, Bermuda 10 September - In a brief statement issued to the Bermuda Stock Exchange (BSX), Stevedoring Services Ltd. President Michael J. Lohan announced that the Company had achieved a net income of $942,406 for the year ending 31st March 1999 as compared with $559,982 for the same period last year.

Earnings per share were also up from $0.45 to $0.76. Revenues rose for the year to $8,248,018 from $7,451,426 the year before. Total annual expenses were $7,305,612 as compared with $6,891,444 in 1998.

Tonnage carried was up from 335,689 to 367,135 and containers moved were also correspondingly higher, 34,537 in 1999 as compared to 31,813 in 1998.