Brief: Stolt-Nielsen Q1 Operating Profit Up At USD 142.1 Mln

Stolt-Nielsen

30/03/2023 08:09

March 30 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * STOLT-NIELSEN LIMITED REPORTS UNAUDITED RESULTS FOR THE
FIRST
QUARTER OF 2023
    * CONTINUED WHERE 2022 ENDED, WITH A SOLID PERFORMANCE FROM
ALL
BUSINESSES DURING WHAT IS TYPICALLY SEASONALLY WEAKEST QUARTER
OF YEAR
    * Q1 OPERATING PROFIT USD 142.1 MILLION VERSUS USD 91.8
MILLION
YEAR AGO
    * AS WE ENTERED 2023, WE SAW A SLIGHT REDUCTION IN VOLUME OF
TURBOT SALES AS COST-OF-LIVING INCREASE IMPACTED HOSPITALITY
INDUSTRY
    * STOLT TANKERS IMPROVED ON THE PRIOR QUARTER RESULTS AS WE
BEGAN
TO SEE THE IMPACT OF CONTRACT RENEWALS ON OUR EARNINGS
    * TANK CONTAINER MARKET HAS BEEN HOLDING UP REMARKABLY WELL.
HOWEVER, OUR EXPECTATION IN THE COMING MONTHS IS THAT WE WILL
MOVE TOWARDS NORMALIZED MARKET CONDITIONS
    * AT STOLT SEA FARM WE ARE SEEING THE IMPACT OF THE
INCREASED
COST-OF-LIVING ON THE HOSPITALITY SECTOR IN THE FORM OF EASING
DEMAND

Source text for Eikon:  ID:nGNEpFpkZ 
Further company coverage:  SNI.OL 

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