Drilling took a big chunk out of Fred Olsen

The second quarter could not fix things at Norway's Fred Olsen, although the carrier can console itself with growth in wind power.

Photo: Fred.Olsen Windcarrier

Fred Olsen Renewables was once again forced to see revenue decline with consequent losses on the bottom line, shows the annual report from parent company Bonheur.

Revenue dropped to around NOK 2 billion (EUR 214 million), down from NOK 3 billion in the same period the year prior. On the bottom line, things went slightly better and the company's deficit shrank by NOK 200 million to a deficit of NOK 812 million.

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