| Vard Q2 results

SHIPBUILDER Vard recorded revenue of NOK2.13 billion (AU$3.3b) in Q2 2017, which was 20% higher than the Q1 2017.

The result was largely the same as Q1 in 2016.

VARD’s overall revenue was affected by softer activity at the Norwegian yards and the cessation of operations in Vard Niteroi, as it declined to NOK3.91b (AU$6.15b).

The group had 44 ships on its order books as of 30 Jun.