Rising impairments in its offshore drilling business hit Fred Olsen company Bonheur as it slipped to a third quarter loss.
A NOK 503m ($60.9m) charge was booked against its offshore business in the quarter, up from NOK 257m a year ago.
It came in a period in which Bonheur recorded a loss of NOK 251m, compared with a NOK 70m profit in the same quarter 12 months ago.
On a core operating level, which the impact of the impairment and depreciation removed, its performance was level at NOK 1.3bn.
While the offshore drilling business carried a loss of NOK 277m, its shipping and offshore energy arm was in the black at NOK 45m. This marked a swing from a NOK 55m loss 12 months previously.
Fred Olsen Cruises also recorded better results with its profit rising from NOK 123m to NOK 127m year-on-year.
Overall, Bonheur has booked a loss of NOK 1.1bn in the opening nine months of 2016. This follows a loss of NOK 2.8bn in the 2015 financial year.
A TradeWinds has previously reported the company has received $176m after settling a dispute with Hyundai Heavy Industries over the Bollsta Dolphin.
