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Oil & Gas

Kvaerner warns of “fierce” competition after profit miss

Norwegian group Kvaerner has warned of fierce competition from Asia after seeing its first quarter operating profit fall 40% to £9.6million.

May 7th 2013, 12:33 pm Updated: May 7th 2013, 12:33 pm
1 min read
Kvaerner, fourth quarter earnings are eclipsed by revenue slip.
PROFIT MISS: Competition from Asian firms is fierce for projects like Kvaerner’s jacket for Gudrun’s Statoil project off the coast of Norway