Aker results from negative to positive

Kjell Inge RøkkeAKER ASA. Industry Leader Kjell Inge Røkke.Photo: Lise Åserud / NTB scanpix

Aker ASA recorded a profit before tax of NOK 158 million in the third quarter of this year – compared to a loss of NOK 1.16 billion last year.

All indications in Aker’s quarterly report point upwards for the third quarter, after a dramatic loss for the same quarter last year. Profits before tax show for example, an improvement of over NOK 1.2 billion when compared quarter to quarter.

– Aker prolonged the positive trend which was started during the second quarter, says Aker CEO Øyvind Eriksen.

The company’s assets increased in value by NOK 5 billion, which is equivalent to 20 per cent per quarter, and together with the stock price at the highest level for the past eight years. Aker companies net worth at the end of September was NOK 29.8 billion.

The oil company Aker BP, which was established this summer when Det norske oljeselskap purchased BP Norway, constitutes the vast majority of Aker values and has so far this year contributed NOK 9 billion.

Operating income fell by almost NOK 4 billion to NOK 10 billion, but operating costs fell even more. Thus, the Kjell Inge Røkke-dominated owned company records an operating profit of NOK 548 million for the third quarter, which is up from an operating loss during the same quarter last year at NOK 748 million.

After tax, Aker has a profit of NOK 34 million, up from a deficit of NOK 1.1 billion for the same period last year.


Source: NTB scanpix / Norway Today