Uncategorized

Aker Solutions profit sinks amid market slowdown

Norwegian oil services company Aker Solutions saw a decrease in its second quarter 2017 profit and revenues amid market slowdown. 

For the second quarter of 2017, Aker Solutions on Wednesday posted a profit of NOK 33 million ($4 million), which dropped from a profit of NOK 131 million ($15.9 million) in the corresponding quarter of last year.

Further, Aker Solutions’ revenues fell 22% to NOK 5.4 billion ($653.2 million) for the second quarter of 2017, compared to the same period last year and revenues of NOK 7 billion ($1.43 billion) due to lower activity levels, especially for subsea projects.

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