February 8, 2019 / 6:14 AM / 4 months ago

Aker Solutions eyes oil service market recovery as order intake beats forecast

OSLO, Feb 8 (Reuters) - The oil service market continues to show signs of recovery, Norway’s Aker Solutions said on Friday as the company reported a higher than expected order intake for the fourth quarter, while profits were in line with forecasts.

Order intake for the October-December period amounted to 5.3 billion Norwegian crowns, while analysts in a Reuters poll on average had predicted an intake of 4.9 billion.

Earnings before interest, tax, depreciation and amortization (EBITDA), excluding one-offs, rose to 495 million Norwegian crowns ($57.6 million) from 482 million a year ago, while analysts on average had expected 493 million. ($1 = 8.5994 Norwegian crowns) (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

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