Bonheur has posted a positive result in the fourth quarter, overturning a big loss in the corresponding period of 2015.
The Fred Olsen company booked after-tax profit of NOK 31m ($3.7m) from October to December, against a loss of NOK 1.1bn a year earlier.
Its drilling offshore segment was the main contributor to this result with a quarterly profit of NOK 72m, compared to a loss of NOK 277m.
Bonheur’s offshore shipping division saw its utilization rise from 39% to 64%, boosting its revenue from NOK 219m to NOK 264m.
But this segment remained in the red with a NOK 124m loss.
Bonheur has upgraded some vessels, which now have extended legs and cranes, positioning them better for working on a wider range of projects.
The company’s cruiseships brought in revenue of NOK 401m, slashing the segment’s loss from NOK 70m to NOK 27m.
