Vard issues profit warning

Mindy Tan

Published Thu, Oct 15, 2015 · 12:02 AM

VARD Holdings issued a profit warning on Thursday with regard to its financial results for the third quarter ended September and the full year ending December.

Citing operational challenges at the group's Brazilian shipyards and the negative trend of Brazil's economic and political environment, the shipbuilder said its Q3 FY2015 and FY2015 results will be "materially negatively affected".

The group's unaudited Q3 results will be disclosed on Nov 11.

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