The shipowner reported net income of just $89,000 versus the $4.2m seen in the corresponding quarter last year.
Swissco said it was forced to include impairment of goodwill of $15.4m, impairment loss on financial assets, available-for-sale asset of $5.3m and costs incurred for the acquisition of rig business Scott and English of $2.3m.
Stripping out the impairment of goodwill and other non-recurring expenses net profit for the fourth quarter would have been $20.8m.
“While
