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Weak profits, strong order intake for Aker Kvaerner

Aker Kvaerner reported a pre tax loss of NOK 429 millionin the second quarter of this year. In the same period last year the Roekke-led concern had a pre tax surplus of NOK 418 million.

Aker Kvaerner reported a pre tax loss of NOK 429 millionin the second quarter of this year. In the same period last year the Roekke-led concern had a pre tax surplus of NOK 418 million.

Loss of NOK 440 million tied to the Kvaerner-owned US shipyard in Philadelphia is the main reason for this year's loss, according to the company report.

Cost overruns and delays in the building of a container vessel are that main reasons for the major losses at the Philadelphia yard.

-While the Group's US shipbuilding activity had a significant negative impact on group results in the second quarter, the improvement programme at the Finnish yard Kvaerner Masa-Yards continued to produce good results. In the second quarter alone, EBITA was NOK 252 million, almost twice as strong as in the first quarter, the company statement said.