Sweden: Increased losses for Concordia in Q3 2017

09.11.2017

Sweden: Increased losses for Concordia in Q3 2017
Dagens Industri, 09 Nov 2017, online:-
Swedish shipping company Concordia reports that loss after tax increased to SEK 533mn (EUR 55.90mn USD 66.79mn) in Q3 2017 from a loss of SEK 10.60mn in Q3 2016. Net turnover decreased to SEK 198mn from SEK 215mn, while losses per share increased to SEK 11.17 from SEK 0.22. Increased losses can partly be attributed to write-downs of vessels in the amount of SEK 474mn. A generally weaker market was also stated to be the reason for increased losses.
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