Q3 2018: A good culture creates good results
Bouvet had operating revenues of NOK 395.4 million for the third quarter of 2018, compared with NOK 344.2 million in the same period of last year. Operating profit (EBIT) came to NOK 20.1 million, compared with NOK 17.1 million in the third quarter of 2017.
Operating revenues increased 14.1 per cent for the first nine months to NOK 1 311.3 million. For the same period, the operating profit ended at NOK 126.4 million, an increase of 33 per cent compared with last year.
“We in Bouvet believe that our corporate culture represents the most important factor for our continued progress. Strategy, plans and expertise will have to be changed, but we will continue to retain and further develop our culture. Success here means that our progress will continue,” says Sverre Hurum, CEO of Bouvet ASA.
Bouvet’s operating costs, including depreciation, came to NOK 375.3 million for the third quarter, compared with NOK 327.2 million in the same period of 2017.
The EBIT margin for the third quarter was 5.1 per cent, compared with 5 per cent in the third quarter last year.
Net profit came to NOK 15.4 million, compared with NOK 12.5 million for the third quarter of 2017. Diluted earnings per share were NOK 1.51 for the quarter, compared with NOK 1.22 in the same period of last year.