Norden narrows 2017 guidance after second quarter loss

finance

Danish owner tunes forecast for the full year as quarterly figures measure up with expectations.

Norden
has
reported
a
second
quarter
loss
in
line
with
market
expectations
and
tuned
its
full
year
forecast
amid
continued
loses
from
its
dry
cargo
business
and
reduced
profit
from
tankers.

Copenhagen-listed
Norden
booked
an
adjusted
loss
of
$3.4m
for
the
three
months
to
the
close
of
June,
in
line
with
the
performance
seen
a
year
ago.

The
red
number
was
a
little
ahead
of
the
$4.5m
loss
consensus,
according
to
analysts
at
DNB
Markets.

Norden’s
dry
cargo
business
booked

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Andy Pierce