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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

Published Wed, Nov 11, 2015 · 09:50 PM

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 mid-October, when it cited operational challenges at its Brazilian shipyards and the negative trend of Brazil's economic and political environment.

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