Wallenius Wilhelmsen returned to profit in the third quarter as volumes picked up, helping it to best analyst predictions.
The Oslo-traded ro-ro owner posted a modest $4m profit for the three months ending 30 September, down from $36m year-over-year, but an improvement from the $69m loss reported in the second quarter.
Third quarter revenue dropped by 27% to $697m versus the same period last year due to a 23% drop in volume over the same period and lower net freight per cubic meter, but chief executive Craig Jasienski said that line saw sequential growth.
