Vard cuts Q3 losses to 8m kroner

Singapore

INCREASED activity at its yards in Romania and Vietnam helped Vard Holdings narrow losses by a significant 90 per cent in the third quarter.

The shipbuilder yesterday reported a net loss of eight million Norwegian kroner (S$1.34 million) for the three months to Sept 30 - a big improvement on the loss of 80 million kroner in the same period a year earlier.