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Vard Holdings' Q3 loss widens on headwinds in Brazil and Europe

Bottom line also hit by increase in net financing cost, which yard group attributes to unrealised foreign exchange loss

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CEO Roy Reite says diversification is on the cards to tide over the prolonged offshore down-cycle impacting the yard group's shipbuilding order book.

Singapore

YARD group Vard Holdings' net loss attributable to equity-holders has ballooned to 486 million kroner (S$80.2 million) for the third quarter ended Sept 30 from 37 million Norwegian kroner a year ago.

The higher loss announced on Wednesday followed its profit warning in

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