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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
London's FTSE 100 extends record streak as UK exits recession
Hot stock: UOI surges to over 6-month high amid heavy trading
Brokers’ take: AEM now in ‘hold’ position for Maybank and DBS
Cordlife says private placement is to address urgent cash needs
TSMC keeps sales growth up in April as AI drives 60% jump
OCBC CEO confident on 2024 performance as Q1 profit rises 5% to S$1.98 billion