reduced by nearly a tenth compared to the same period last year.

The passenger transport, marine container leasing and luxury hotels operator yesterday said for the quarter ended March 31, 2000 the loss was $7.9 million, compared to 1999 loss of $8.7 million.

This amounts to a loss of 43 cents per common share fully diluted compared to 1999 loss of 48 cents per common share.

Revenue stood at $278 million, compared to $276 million for the same period last year.

According to the company, the first quarter of 1999 was adversely impacted by a $12.3 million charge in connection with an accounting rule change.

The company added that in 2000 the Passenger Transport Division was affected by the major European Easter holiday period falling in April instead of March.

Sea Containers also said the figures were impacted by the requirement to consolidate 50 percent of Neptun Maritime's (Silja Line) first quarter loss for the first time.

Profits from marine container leasing were $2.1 million down on 1999's fourth quarter.