30 of nearly $102 million, more than ten times the profits earned in the second quarter of last year.

The company's results reflect the sale of core business.

In reporting a second quarter earnings increase of 917.7 percent, the marine container asset lessor and ferries and hotels operator said that it earned $101.7 million or $8.84 a share, in the quarter compared to the same period last year in which they made $9.99 million or $0.60 a share.

The earnings came on revenues of $131,278,000, fractionally up by just 1.9 percent from the $128,874,000 revenues reported for the second quarter of 1994.

The company earlier reported seasonal first quarter losses of $5.8 million on revenues of $98 million to March 31.

But they announced at that time their intention to sell their ferry unit, Wightlink Ltd., to an investor group led by CINven Ltd. In June, Sea Containers said that the deal was done for about $160 million, net of working capital, which was retained by Sea Containers.

The divestiture was the significant aspect of a $250 million sales programme.

The programme was designed to reduce the company's debt, retiring high dividend preferred shares and new capital investment. The company has also been considering the sale of a hotel and other assets.

The company was also considering replacing the Wightlink business with an investment in high speed car ferries, an industry pioneered by Sea Containers.