SEA CONTAINERS &lt;SCR> EXPECTS BETTER FIRST QTR

  Sea Containers Ltd predicted
  its first quarter fiscal 1987 net earnings would improve by 10
  mln dlrs over the same period a year ago.
      The company said 1987 got off on a much better footing than
  fiscal 1986, from which the company recorded a loss of 67.6 mln
  dlrs, or 6.28 dlrs per share, on revenues of 641.4 mln dlrs.
      James Sherwood, president of the company, said he expects
  to record a loss of approximately 12 mln dlrs for the first
  quarter, compared to losses of approximately 22 mln dlrs for
  first quarter fiscal 1986.
      The company emphasized the first quarter is a traditionally
  slow period for the ferry industry, which is  part of Sea
  Containers' business.
      Sherwoood said the company's losses were largely
  attributable to non-recurring events and provisions. He cited
  the default of 15 container leasees and ship charterers,
  costing the company approximately 25 mln dlrs.
      He also cited a 23 mln dlr cost as a result of a closing
  two of its subsidiary's ferry services, and a 10.3 mln dlr
  provision to cover losses on the sale of container assets and
  severance pay costs.
  

