Kvaerner suffers a loss after major write-downs
Article Abstract:
Kvaerner ASA of Oslo, Norway, has reported a record pretax loss of $153.9 million in the first nine months of 1998 after being affected by high debts and crisis in markets in Asia. The engineering group, which is heading towards its first annual loss since its listing in the Oslo bourse in 1967, posted the loss following substantial write-downs on fixed assets and investments. Kvaerner chairman Christian Bjelland said the write-downs and provisions from a financial review by the board came after a weakness in global economy and management changes.
Comment:
Posts record pretax loss of $153.9 mil in 1st nine months of 1998 after being affected by high debts and crisis in Asian markets
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Michael Page warns on earnings
Article Abstract:
Michael Page International gave another warning about its profits for the full 2001 year. The firm is expecting its profits to be at the lowest end of analysts' forecasts, which is about 65 million pounds.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
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