The Business Times
business-time-50
SUBSCRIBERS

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

google-preferred-sourceAdd BT as a preferred source
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.

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    State-level minimum purchase thresholds push foreign buyers towards higher-value properties, while consent rules and other restrictions further narrow the pool of homes available to them.

    That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think

    The penalties for keeping or using de-registered vehicles were recently increased in February.

    3 to be charged in Singapore over use of de-registered vehicles 

    Jho Low, whose whereabouts are not known, has publicly proclaimed his innocence.

    Malaysian fugitive Jho Low seeks Trump pardon in 1MDB case

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More