Subsea 7 in strong 2nd quarter

Subsea 7 improved its result significantly in the second quarter 2014, compared to the same period last year, and the company's orderbook now stands at USD 11.2 billion, according to the interim report.

BY KATRINE GRØNVALD RAUN

Jean Cahuzac is a happy man following a quarter that had a positive impact on Subsea 7, which he heads. The Luxembourg-based subsea installation company finished the quarter with black numbers on the bottom line, where the same quarter last year brought a slight deficit of USD 13 million. Today the company's net profit came to USD 265 million, and revenue increased to USD 1.9 billion, according to the interim report, published Thursday.

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