Nordic Business Report-April 10, 2006-IM Skaugen ASA posts Q1 pre-tax profit of USD6.87m
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The Norwegian tanker shipping company IM Skaugen ASA issued its first quarter figures on Monday (10 April), reporting a pre-tax profit of USD6.87m, as compared to USD8.45m in the first quarter of 2005.
Gross freight revenues amounted to USD54.34m, up from USD44.77m in the first quarter last year.
IM Skaugen said that while its gas carrier operations had developed well, its ship-to-ship transfer of crude oil in the Gulf of Mexico had been affected by bad weather conditions.
One US dollar (USD) is worth approximately 0.57 British pounds (GBP).
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