Aker Q2 opg 20 mln nkr vs 582 mln after structural adjustments, share sales |
|
|
|
Published
:
Tue, 14 Aug 2007 08:30
|
OSLO (Thomson Financial) - Norwegian industrial conglomerate Aker ASA posted second quarter operating profits of 20 mln nkr, down from last year's 582 mln, after six months of major structural upheaval and the sale of significant stakes in both Aker Yards and Aker Kvaerner.Aker, controlled by Norwegian business tycoon Kjell Inge Rokke, saw pretax profits come in at 309 mln nkr, down from 965 mln last year, while sales fell to 1.37 bln nkr from the previous year's 14.04 bln.During the first six months of the year Aker underwent major structural changes, selling all of its shares in shipbuilder Aker Yards and 10 pct of its stake in engineering giant Aker Kvaerner.The holding company has also transferred ownership of its remaining 40 pct stake in Aker Kvaerner to a new holding company, Aker Holding, whilst in the process selling a portion of the shares to the Norwegian government and Sweden's Investor and Saab.While these changes have freed billions of Norwegian kroner, Aker reiterated today that it will not be paying any extraordinary dividends to shareholders.'Assets freed up will be retained by Aker; they will provide Aker shareholders with additional predictability as to future dividend payments in line with the company's established dividend policy,' the firm said.'Moreover, Aker has strengthened its financial clout for further industrial targeting and innovation.'alastair.reed@thomson.comar/ajbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
|
|
Print this Story
Aker to form new ship-owner, Aker DOF Supply, with offshore services firm DOF 