Akastor, controlled by Norwegian investor Kjell Inge Røkke and with the Norwegian state as a major shareholder, took a new beating in the extremely dire oil and gas markets in which the oil service group operates a series of companies.
The group's revenue dropped to USD 182.0 million from USD 339.7 million in the same period last year, which corresponds to a 47 percent setback. The operating profit (EBITDA) returned to the black from a deficit of USD 15.2 million in the third quarter 2015 to a profit of USD 15.4 million in the latest quarter. The positive operating result is mainly attributable to the delivery of several projects.
Already a subscriber? Log in.
Read the whole article
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for EnergyWatch has now started
With your free trial you get:
Full access to all locked articles on EnergyWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.