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Vard suffers Q3 net loss of 37m kroner despite 18.5% rise in revenue

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Published Tue, Nov 11, 2014 · 09:50 PM

    Singapore

    VARD Holdings sank into the red with a net loss of 37 million Norwegian kroner (S$7.01 million) for the third quarter ended Sept 30 compared with a profit of 76 million kroner a year earlier, because of higher operating costs.

    Revenue jumped 18.5 per cent year-on-year to 2.81 billion kroner as the firm delivered five vessels during the quarter and landed contracts to build two more.

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