Modec narrows losses, despite fall in revenue

Reversal of provision for repairs helps lift the company's bottom line and offset the fall sales

Modec: the Japanese FPSO company posted reduced losses in 2020, despite a fall in revenue
Modec: the Japanese FPSO company posted reduced losses in 2020, despite a fall in revenuePhoto: REUTERS/SCANPIX
Published 10 February 2021, 02:21Updated 10 February 2021, 02:21