|
|
26 Aug 2003
The Norwegian ship-building group made a £36m loss in the second quarter of its financial year, because of delays in the construction of ships and cost overruns.
The company, however, predicted an upturn in the second half of the year, saying its operations in Finland were strong due to new oil and gas contracts in the pipeline.
Last year, Kvaerner was forced to write off 230m Norwegian Kroner (£18m) after it discovered an error in its accounts between 1998 and 2000. The mistake, a failure to account for some costs, had been missed by both KPMG and Andersen.
The company also fell into financial dire straits two years ago but was rescued from insolvency at the last minute by its largest shareholder.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment