Vard's Q1 profit plunges 51.1% to 92m krone
OFFSHORE vessel builder Vard Holdings posted a 51.1 per cent year-on-year fall in its first-quarter net profit to 92 million Norwegian krone (S$19.2 million) due to lower revenue and higher costs.
Revenue for the three months ended March 31 dipped 2.7 per cent from the same period last year to 2.7 billion krone. Vard saw its operating margin during this period fall to 4.6 per cent from 10 per cent last year.
Earnings before interest, tax, depreciation and amortisation (Ebitda) margin increased for the third consecutive qu…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Middle East violence heightens market fears of rate hikes, inflation
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Inside TSMC chairman Mark Liu's short but impactful reign
CSE Global bags US$36.5 million data centre contract extension