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Norwegian yard group declines on the bottom line

The Norwegian yard and offshore group Kvaerner suffered a decline in the first half of the year. In spite of the offshore crisis, there is still a need for our services, management writes in the interim report.

In the first six months this year, Kvaerner managed to increase revenue. The Norwegian group, which supplies offshore solution to customers including the Johan Sverdrup-field, presented a revenue for the first half of the year of approximately USD 813 million, which is an increase from about USD 776 million in the same period last year.

The earnings however could not keep up, and the net result landed at USD 14 million which is almost a 50 percent reduction compared to the first six months of 2014, where the earnings came to USD 26.6 million.

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