A jump in cargo volume helped drive Bermuda Container Line's first half profits up 24 percent, the company reported yesterday.

BCL, which owns the Oleander and has a joint venture share in the Somers Isles, yesterday reported that its profits for the six months to June 30 were $401,000, but said they still lagged behind the same period in 2004.

The company also said revenue surged seven percent to $1.107 million due to the increase in volume and an increase in its freight rates which took effect in April, 2005.

"Finally, there was a very healthy growth in investment revenue due to higher interest rates and a more aggressive investment policy," the company said.