Viking delivers record profits in squeezed offshore market

Viking's sale of life rafts is booming. Despite an offshore market under pressure, the carrier delivered its best ever annual report with a revenue of approximately USD 286 million in 2015.


2015 was an extremely tough year for the majority of players in the offshore industry. However, the trend does not seem to have affected Viking Life-Saving-Equipment, which has just delivered its best ever annual report. The sale of life rafts to oil platforms is going better than ever, and for 2015 the company reported an annual revenue of USD 286 million and a profit before tax of USD 30 million. In 2014, the revenue finished at around USD 256 million, while the result before tax came to USD 27 million.

This does not mean that Viking has not been touched by the offshore market downturn, where sales have declined.

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