World Wide Supply (WWS) has turned a profit for the first quarter but it still faces financial difficulties.

The Norwegian owner, which is now controlled by bondholders as it has not paid any interest since last August, posted pre-tax profit of NOK 29.5m ($3.6m).

This figure includes an unrealised currency profit of NOK 51.9m related to US dollar bond loans and loans granted to subsidiaries in euros.

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