Veidekke ASA: Veidekke ASA: Write-downs result in weak earnings
(WorldNews Africa)

Veidekke reported 10 per cent higher revenue in the second quarter over second quarter 2017 and a stronger order backlog, but the earnings are weak due to write-downs in the Norwegian civil engineering operations. `Veidekke presents a mixed picture for the second quarter: We have increased our revenues in segments with good profitability, and our order backlog is the highest ever. However, at the same time, the write-down of four civil engineering projects has resulted in weak earnings for the quarter,` says President and CEO Arne Giske. `The write-downs are attributed to the fact that major changes in the projects have made the revenue base for these projects uncertain. We have not...