BW Offshore grows its profit in the fourth quarter

BW Group's offshore company achieved a profit of USD 30.6 million in the fourth quarter 2019, while the full year was better than the previous one. Outstanding payment from a customer was costly in the quarter.

Photo: PR / BW Offshore

BW Offshore had a better fourth quarter as well as 2019 as a whole, shows the annual report from the company that is part of the major BW Group.

The shipping company reports a profit after taxes of USD 30.6 million in the fourth quarter, up from USD 9.5 million in the same period last year. For the full year, the result came to USD 106.1 million compared to USD 36.5 million the year before.

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