Norwegian yard group books profit after huge cuts

Bergen Group has been closely shaved to the point of being unrecognizable, but managed to book a small profit in the third quarter. The company's creditors have forgiven debt of approximately USD 21 million. 

Photo: Bergen Group

Norwegian yard group Bergen Group looks like it is going in the right direction, albeit in a drastically reduced form with only 150 employees remaining against 2000 one year ago. 

Bergen Group ASA, which has forgiven creditor debt worth NOK 180 million (USD 21 million) produced a third quarter revenue of just NOK 56 million and an operating result before depreciation and write-downs (EBITDA) of NOK 0.4 million, according to the quarterly report published Monday.

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