Brief: Reach Subsea 4Q Pre Tax Loss Widens To NOK 25 Million

Reach Subsea ASA

25/02/2020 06:35

Feb 25 (Reuters) - Reach Subsea ASA  REACH.OL :
    * OPERATING REVENUES IN Q4 2019 WERE NOK 108 MILL (NOK 191
MILLION
IN 4Q2018)
    * 4Q2019 PRE TAX RESULT OF NOK -25 MILLION (NOK -6 MILLION)
    * DECREASE IN TURNOVER AND NET RESULT IS MAINLY EXPLAINED BY
REDUCED UTILISATION OF ASSETS IN 2019 COMPARED TO 2018
    * THREE ROVS WITH LOWEST UTILISATION IN 2019 ARE EXPECTED TO
HAVE
SUBSTANTIALLY HIGHER ACTIVITY LEVEL THIS YEAR

Source text for Eikon:  ID:nObiD7vZva 
Further company coverage:  REACH.OL 

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