February 13 - In its fourth quarter 2016 results, Wilh. Wilhelmsen Holding (WWH) reported an increase in total income and operating profit when compared to the previous quarter.
Fourth quarter revenue for the group was USD710 million, while operating profit was USD86 million, up 8 percent and 37 percent respectively over the third quarter of 2016.
"Increased volumes in shipping, higher operating revenue and a gain following the sales of our safety business to Survitec lifted total income. In addition, the topline saw a positive contribution from the NorSea Group and Treasure ASA's investment in Hyundai Glovis," said Thomas Wilhelmsen, WWH ceo.
Going forward, Wilhelmsen expects the challenging environment to continue to affect the group's business entities.