MOL raises forecast

MOL raises forecast

MOL on Friday revised its estimates for the fiscal year that ended March 31, 2004.

The company now said it anticipates revenues of $9.1 billion for the fiscal year, up from Feb. 12 forecast of $8.8 billion. Net income is now forecast at $476 million, up from $421 million.

MOL said strength in the containership sector is the reason for the improved forecast, as well as continued cost cutting initiatives.