Brief: Stolt-Nielsen Q3 revenues and profit lag forecast

Stolt-Nielsen

06/10/2016 07:20

Oct 6 (Reuters) - Stolt-Nielsen Ltd  SNI.OL  
    * q3 revenues $474.1 million (Reuters poll $485 million) 
    * q3 net profit $22.2 million (Reuters poll $25.8 million) 
    * q3 operating profit $52.6 million (Reuters poll $56.3 
million) 
    * CEO says difficult to forecast what year ahead may bring 
    * Volume growth has not kept pace with supply-side growth, a 
situation made more acute by recent influx of cpp swing tonnage 
    * On demand side, weak return volumes from china and far 
east are likely to continue 
    * At stolthaven, ongoing actions to improve performance 
globally are steadily yielding sustainable results in line with 
our expectations 
    * We believe decline in rates and margin squeeze at tank 
containers unit will soon bottom 
    * At stolt sea farm, we are encouraged by firming of turbot 
and caviar prices, and we continue to see progress at our sole 
farm in iceland 
 
Source text for Eikon:  ID:nGNXNHHWDa  
Further company coverage:  SNI.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))