(From Article)
PUBLISHED MAY 14, 2013
Vard Q1 net profit tumbles 30%
Norwegian shipbuilder Vard Holdings Limited's first-quarter net profit fell 30.1 per cent year on year to NOK188 million (S$40.1 million).
The company, previously called STX OSV Holdings, said on Tuesday that its revenue for the three months ended March 31, 2013 fell 2.3 per cent from a year ago to NOK2.75 billion.
Earnings per share fell to NOK0.16 from NOK0.23.
However, net asset value per share rose to NOK2.86 as at end-March from end-December 2012's NOK 2.68.
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