Strongest quarter increase since 2006 for Aker

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

Aker made a profit before taxes of 300 million kroner in the second quarter, 34 million lower than the same quarter last year. At the same time the recent merger has lead to its biggest increase in value since 2006.

Aker writes in its quarterly report that the net value has increased by 29 percent during the period, to 24.7 billion kroner in the second quarter this year.
In June  the Norwegian oil company announced that it will acquire BP Norway and create a new oil company, Aker BP. The merger between the companies, in which Aker ASA is the largest shareholder, has led to a large increase in value for Aker and Kjell Inge Røkke, who is the largest shareholder in Aker through the holding company TRG Holding.
– It is the strongest quarterly increase since 2006. The merger with the Norwegian alone accounts for 4 billion of growth in value of 5.8 billion. It is a reminder of the potential for growth in oil and gas sector,  CEO Øyvind Eriksen.
The quarterly report shows a sharp drop in turnover says.The total income of the group dropped from 14.8 billion kroner in the second quarter last year to 11.7 billion kroner in the same quarter this year.


Source: NTB scanpix / Norway Today