Vard Holdings has seen an eight-fold reduction in third quarter losses, according to figures released Friday morning.
The Fincantieri-backed shipbuilder posted losses of NOK 104m ($12.4m) versus those of a year ago which were NOK845m.
However, the Singapore-listed group’s 2015 third quarter financial performance was impacted by NOK 410m in restructuring costs.
Vard said revenue for the latest third quarter was down 34% to NOK 1.5bn.
