Bouvet Q3 2016: Profit improvement for Bouvet in a good market
Oslo, 10 November 2016: Bouvet had operating revenues of NOK 280.4 million for the third quarter of 2016, compared with NOK 256.8 million in the same period of last year. Operating profit (EBIT) came to NOK 12.1 million, compared with NOK 6.6 million in the third quarter of 2015.
"Bouvet's broad range of service and leading-edge expertise has given us renewed trust among our customers. Long term relationship makes us the preferred digitalisation partner. Bouvet is therefore well positioned to grow," says Sverre Hurum, CEO of Bouvet ASA.
Bouvet's operating costs, including depreciation, came to NOK 268.3 million for the third quarter, compared with NOK 250.1 million in the same period of 2015. That represents an increase of 7.2 per cent.
The EBIT margin for the third quarter was 4.3 per cent, compared with 2.6 per cent in the same period of last year.
Net profit for the third quarter came to NOK 8.2 million, up from NOK 4.3 million in the same period of 2015. Diluted earnings per share were NOK 0.79 for the quarter, compared with NOK 0.40 in the same period of last year.
Further information from:
- Sverre Hurum, CEO, Bouvet ASA, tel +47 913 50 047
- Erik Stubø, CFO, Bouvet ASA, tel +47 950 36 011