Oil Service Firm Aker Solutions Says Market Uncertainty Persists

Reuters

OSLO, April 28 (Reuters) - Norwegian oil services firm Aker Solutions posted first-quarter earnings in line with expectations on Thursday and said outlook for its core Norwegian market still looks subdued this year amid the lower crude prices.

The firm's earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to 508 million Norwegian crowns($62.42 million) in the first quarter from 591 million crowns in the same quarter last year, broadly in line with expectations for 505 million in a Reuters poll of analysts .

"Market uncertainty persists amid concern over capital, oil prices... Commercial environment remains tough," the company said, while adding that oil companies continue to postpone projects.

The company repeated its financial guidance.

(Reporting by Stine Jacobsen, editing by Terje Solsvik)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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