The Singapore listed company said net profit was NOK 20m ($2.6m) versus the NOK 106m seen in the corresponding quarter last year.
On the back of very high activity at the yards, fourth quarter revenue rose 45.5% to NOK 4.5bn from the same period in 2013.
Vard’s year-end 2014 order book value of NOK 17.7bn comprises 39 firm vessel orders, 24 of which will be of its own design.
“The
