LONDON (Bloomberg) — Ocean Wilsons Holdings Ltd, a Bermuda-based investment and shipping-services company, said first-quarter profit at its Brazilian marine unit rose 42 percent after it cut costs and increased exports.Net income at the unit, Wilson Sons Ltd, rose to $11.7 million, or 0.47 cents a share, from $8.2 million, or 1.63 cents, a year earlier, the company said in a statement distributed by the Regulatory News Service yesterday. Sales increased 7.1 percent to $82.6 million.

Shares of parent company Ocean Wilsons Holdings rose 2.8 percent to 925 pence in London. They have gained 69 percent so far this year.