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Vard earnings plunge 66.7% in Q3

Company cites overload situation at its Brazilian yard
Thursday, November 7, 2013 - 06:00

OFFSHORE vessel builder Vard Holdings yesterday posted a sharp drop in third-quarter net profit of 66.7 per cent to 76 million Norwegian kroner (S$15.8 million), from 228 million kroner last year, due mainly to an overload situation in its Brazilian yard. Revenue for the July- September quarter

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