Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/spot_news/aker-group-losses-widen-stock-slump.shtmlAker Group losses widen on stock slump
Norway-based Aker ASA — parent company to Aker Solutions, Aker Exploration, Aker Floating Production, Aker Drilling and Aker Clean Carbon — has ...
Edit page New page Hide edit links
Norway-based Aker ASA — parent company to Aker Solutions, Aker Exploration, Aker Floating Production, Aker Drilling and Aker Clean Carbon — has said 5.6 billion kroner ($800 million) in lost stock values is largely behind the 1.2 billion kroner ($171 million) quarterly loss it reported Friday.
The result was about 1.3 billion kroner ($186 million) down from the result of a year ago after revenues fell 277 million kroner to 1.48 billion kroner ($212 million).
The result was partly hit by the two-thirds drop in earnings before tax of offshore engineering business Aker Solutions, in which Aker ASA holds a 41 percent stake.
But Aker showed hope for future earnings in its other businesses. Aker Floating Production had eclipsed a start-up quarterly loss from a year ago with 83 million in earnings before tax and debt payments.
Aker Exploration was about to the drill the first of 2009’s four wells.
And new-build deepwater intervention ships for Aker Oilfield Services to be delivered in 2010 already offering Petrobras rig savings.
