Borgestad ASA (BOR.OL), a Norwegian real estate investment company, said on Thursday that its first-quarter loss widened, impacted by uncertainties in the global refractory market. Revenue and other income also came in lower than the previous-year period.
The company posted a loss of 30.29 million Norwegian Kroner or 0.68 Kroner per share in the first quarter, compared to a loss of 23.05 million Kroner or 0.50 Kroner per share in the same period last year.
During the three months, pre-tax loss widened to 28.01 million Kroner from a loss before tax of 21.63 million Kroner recorded in the corresponding quarter a year ago. EBITDA for the period was negative 3.3 million Kroner, compared to negative 1.6 million Kroner a year ago.
The company's quarterly revenue and other income declined to 201.53 million Kroner from 206.46 million Kroner in the prior-year period.
On the Oslo Exchange, BOR.OL ended Wednesday's trading at 16.30 Norwegian Kroner, down 0.10 Kroner or 0.61 percent.
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