DOF Subsea Posts Q3 Loss

DOF Subsea, a subsidiary of DOF Group, reported loss in the third quarter of 2018 of NOK 98 million ($11.5 million), compared to profit of NOK 138 million ($16.2 million) in the corresponding period in 2017.

Year-to-date result for 2018 also came out negative, with loss of NOK 182 million ($21.4 million), against profit of NOK 91 million ($10.7 million) in the nine months of 2017.

In the quarter ended September 30, 2018, the Bergen-based company had operating income of NOK 958 million, up from the corresponding period in 2017 (NOK 899 million).

Operating income in the first nine months of 2018 was almost relatively flat at NOK 2.79 billion, versus NOK 2.78 billion in 2017.

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