Aker Solutions ASA (AKKVF.PK) Wednesday reported lower profit for the first quarter impacted by higher operating expenses. The company further provided outlook for the coming quarters.
For the three months the firm posted pre-tax profit of NOK 370 million versus NOK 742 million last year. Profit after tax for the quarter was NOK 269 million compared with NOK 526 million last year. On a per share basis earnings for the period totaled NOK 0.99 versus NOK 1.93 a year earlier.
Operating expenses however climbed to NOK 10.14 billion, up from NOK 8.79 billion for the year-earlier period.
Operating revenue and other income for the quarter totaled NOK 11.06 billion, up from NOK 9.83 billion for the corresponding prior-year period.
Looking forward, firm said it sees improved financial performance in the third and fourth quarters versus the corresponding prior-year periods.
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