helped drive up profits by 11 percent to $5.9 million in the first half of its financial year, the company said yesterday.

The Norwegian-owned company said operating profit before depreciation of for the six months to June 30 was $37.5 million, up 60 percent on the same period a year earlier.

"The improved result was largely due to a larger fleet,'' a Bona statement said. "The Suezmax tankers and the large range product carriers experienced increased rates compared to the first half of 1995, while the OBOs obtained lower rates due to a weak dry bulk market.'' Second quarter net income was $5.6 million, up 143 percent from $2.3 million a year earlier.