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
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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.
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