Norway: Decrease in profit for Frontline in Q1 2017
30.05.2017 Norway: Decrease in profit for Frontline in Q1 2017Hegnar Online, 30 May 2017, online:-
Oil tanker shipping company Frontline reported a decrease in profit after and before tax from USD 79mn (EUR 70.66mn) in Q1 2016 to USD 27.10mn in Q1 2017. The expectation was for USD 38mn. Operating profit decreased from USD 102.80mn to USD 40.80mn, which is less than the expected USD 51mn. Operating revenue decreased from USD 227.10mn to USD 177.10mn.
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