Novenco turns deficit into profit

After three years with deficits on the bottom line, Novenco Marine & Offshore was able to land a profit in 2014. However, the oil price constitutes a threat to the improved result.

Novenco Marine and Offshore finished 2014 in good form as the supplier was able to grow its revenue while also replacing a deficit on the bottom line with a positive result this year.

Revenue grew to USD 118.7 million in 2014, from USD 79.6 million in 2013, while the result improved from a USD 4.4 million deficit to a USD 1.4 million profit, according to the company's annual report.

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