Bright spark: Aker Yards
Aker Yards building on strong demand
Norwegian shipbuilder Aker Yards said today that booming demand from the energy and shipping sectors has pointed to a strong future for the company after it nearly doubled its fourth-quarter core profit.
Earnings before interest, tax, depreciation and amortisation increased to NKr343 million Norwegian ($50.3 million) in the three months to the end of December from NKr173 million in the same period a year earlier.
"The overall shipbuilding market will be positively influenced as a result of assumed higher global economic growth, assumed low interest rates and increasing exports from China," Aker Yards said.
"Demand for cruise holiday travellers is showing a steady growth, giving good prospects for cruise shipbuilding," it said.
Chief executive Karl Erik Kjelstad declined to give any more guidance for this year until Aker Yards had completed its 300 million euro ($357 million) takeover of the shipbuilding arm of French engineering company Alstom, likely later this quarter.