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Nikkei Markets

Singapore-Listed Vard Holdings' Second Quarter, First Half Net Losses Widen

By Singapore Newsroom
Nikkei Markets
SINGAPORE (Jul 25) -- Singapore-listed shipbuilder Vard Holdings' second-quarter and first-half net loss for the period ended Jun. 30 widened to 69 million Norwegian krone ($8.60 million) from 67 million krone in the corresponding year-ago quarter, and 96 million krone from 24 million krone, respectively, it said in an exchange filing Tuesday.

Revenue fell to 2.13 billion krone from 2.22 billion krone in the second quarter and to 3.91 billion krone from 4.24 billion krone in the first half, the statement said.

Vard attributed the results to a "low and variable workload in Norway and (a) decreasing workload in Brazil.

It wants to use its "extensive experience in highly specialized vessels to bolster its order book" as "faces the challenge of managing varying degrees of workload across (its) different yards," it said in the statement.
By Singapore Newsroom; sgeditorial@nikkeinewsrise.com; +65 6331 6250
- Edited by Glen Nicol Perkinson
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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