Vard hit with $8.4m loss in Q2
Due to the industry slowdown.
Vard Holdings reported a net loss of $8.4m (NOK50m) in the second quarter due to slower yard activity on back of the oil price downturn.
This compares unfavorably with a net profit of $17.65m (NOK 105m) in the same quarter last year.
Order book value at the end of the second quarter stood at $2.34b (NOK 13.92b), representing a 10.9% decline from the preceding quarter, and a 35.6% decrease from the same period in the preceding year.