The offshore vessel owner said net profitto 31 March was NOK 211.98m ($35.75m), up from NOK 26.22m in the same periodlast year.

Revenue for the first quarter was NOK 870m,including a gain from asset sales of NOK 44m, compared to NOK 798m in 2013.

Its construction and supply vesselsimproved revenue, but anchor-handlers were slightly weaker, Solstad said.

It cut operating costs by NOK 20m to NOK 522m,however.

And