Kristian Siem-chaired Subsea 7 has logged a massive annual profit after it reduced its fourth quarter loss.
The offshore shipping player said the net deficit in the final three months was $13m against $421m in 2015.
Revenue dropped to $932m from $1.02bn, but it only booked a goodwill impairment charge of $90m, compared to $590m the year before.
There was also a $147m impairment relating to vessels and operating equipment.
This
