Kvaerner issues profit warning
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.KVAERNER, the troubled Anglo-Norwegian engineering giant, yesterday issued a surprise profit warning which triggered a 15 per cent plunge in its share price.
The company warned investors that losses on a number of projects and tough market conditions would lead to a "significant weakening" in third- quarter results. Analysts predicted that Kvaerner would swing into a loss in the third quarter, with provisions likely to reach 2bn Norwegian crowns (pounds 170m). The shares, which rose last week after the appointment of the new chief executive, Kjell Almskog, to replace the ousted Erik Tonseth, crashed 35 Norwegian crowns to 139.5 crowns.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments