Prosafe delivers fourth quarter profit

Offshore company Prosafe was less busy in the fourth quarter, but was still able to deliver a positive bottom line.

Prosafe, which supplies accommodation rigs for the offshore sector, delivered a USD 4.9 million profit in the fourth quarter, compared to a deficit of USD 32.7 million in the fourth quarter 2016, according to the interim report published Tuesday.

The adjusted gross profit (EBITDA) came to USD 40.1 million, down from USD 78 million in the same period 2016, due to lower rig utilization, notes the company in the report. CEO Jesper Kragh Andresen says the following about the result:

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