Kvaerner Sees Rising Revenues, Better Margins in 4Q

Reuters

OSLO, Feb 14 (Reuters) - Norwegian industrial group Kvaerner, which builds heavy equipment like oil platforms, posted fourth-quarter earnings a touch ahead of expectations on Friday and said it expects revenues to rise this year even as competition remains intense.

Kvaerner's fourth-quarter operating profit rose 60 percent to 162 million Norwegian crowns, a touch ahead of expectations for 156 million crowns.

In 2014, it expects revenues to rise to between 15 and 16 billion crowns from last year's 12.96 billion crowns and expects "gradual margin improvements".

(Reporting by Balazs Koranyi)

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