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J. Lauritzen made USD 29 million in 1st half of 2014

Following a paralyzing deficit of USD 262 million in the first half 2013, the J. Lauritzen group has managed to turn developments around, to a USD 29 million profit in the first half of 2014. The STX deal helps.

The J. Lauritzen group achieved a profit of USD 29 million in the first half of 2014, according to the company's 2nd quarter interim report. This represents a significant improvement compared to the 1st half of 2013, where the carrier suffered a massive deficit of USD 263 million.

However, developments for the rest of the year remain challenging. The company expects an operating result of USD 65 - 80 million, lower than the previously announced expectations of USD 80 - 100 million. The company also expects a lower net result for the full year, at USD 5 - 20 million.

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