Norden posts Q1 profit; raises full-year profits guidance

Norden

Norden raises its full-year profits guidance.

“Despite the challenging environment, NORDEN realised an Adjusted Result of USD 29 million – the best first quarter result since 2015. The Dry Operator unit showed the strength of its business model, delivering a solid performance in a weak market. The newly formed Tanker Operator unit had a very positive start to the year due to good positioning in a strong market. All in all, all three business units delivered a profit for the quarter, and NORDEN raises its guidance for 2020 to USD 30-80 million”, CEO Jan Rindbo said.

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