Kvaerner doubles its profit in the third quarter

Norwegian oil service company Kvaerner finished the third quarter of the year with an improved revenue and a bottom line that was more than doubled. However, the company expects a slower 2020.

Photo: Kvaerner

Kvaerner can look back on a third quarter in which higher activity among the oil service company's projects boosted its top as well as bottom line.

The Norwegian company, part of Kjell Inge Røkke's Aker Group, delivered a net profit of NOK 72 million (USD 7.8 million), which was more than a doubling from NOK 35 million in the same period 2018, shows the interim report Monday.

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