The owner of a 70-strong fleet of OSVs saw net income drop by 33% during the quarter to NOK 109m ($16m).
This was despite operating income increasing 5% to NOK 2.7bn, partially offset by a near 8% increase in costs to NOK 1.8bn.
However, the Oslo-listed company was caught out by a near six-fold increase in currency losses of NOK 104m.
This led to a year-on-year increase in net financial costs for the quarter of nearly 40% to NOK 495m versus the NOK 354m a year ago.
The
