Hoegh LNG has seen a 40% year-on-year decline in second quarter net profit to $3.5m, figures released Thursday show.

Revenue at the Oslo-listed FSRU specialist grew to $57.1m from $54.9m a year ago helped by an increased contribution from the Hoegh Gallant.

However, the Sveinung J S Stohle –led company was hit by a 54% year-on-year increase in interest expenses to $14.6m.

“The