Vard earnings plunge 66.7% in Q3
Company cites overload situation at its Brazilian yard
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 was 2.37 billion kroner, decreasing by 3.5 per cent from 2.46 billion kroner in the corresponding period of 2012.
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