Vard issues profit warning for 3Q15 and FY15 results
Operational challenges are plaguing the company.
The shipbuilder has enough reasons to be pessimistic about their profits for the quarter and for the year, as growing concerns on its Brazil operations seem to be getting heavier.
According to OCBC, operational challenges at the Brazilian yards of the group are heightening concerns about Vard’s profit.
This is also compounded by the negative trend in the Brazilian economic and political environment.
“[This means] that results for 3Q15 and FY15 “will be materially negatively affected”,” OCBC said.
Vard’s 3Q15 results would be released by November 11 this year.