Jump for Sea Containers profit

Jump for Sea Containers profit

Box lessor Sea Containers Ltd. said its third-quarter profit rose sharply on gains from an asset sale gain and strong results in its main business units.

The Hamilton, Bermuda-based company reported third quarter net earnings of $100.7 million compared with $17.9 million a year earlier.

Revenue rose 2 percent to $480 million.

The company's container division reported operating profits for the quarter of $8.7 million, up 61 percent from the prior year period. A total $2 million of the $3.3 million increase was in GE SeaCo, the company's 50-50 joint venture with GE Capital, due to strong global demand for containers.