The Norwegian company booked a loss of NOK292m ($50m) for the quarter versus a loss of NOK48m in the second quarter of 2011.
Unrealised losses on foreign exchange for the second quarter were NOK 611m, which was mainly attributed to the weaker Norwegian Krone and Brazilian real.
The currency losses masked a promising quarter for the company which saw a 35% jump in revenues to NOK2.1bn
