Privately owned Norwegian conglomerate Hesnes Holding logged a pre-tax profit of NOK 44m ($5.23m) last year compared with a NOK 39m in 2016.
Revenue increased from NOK 273m to NOK 275m.
“The financial performance has been satisfactory, taken into account the challenging market situation of the group’s core businesses,” the board states in its annual report.
The Odd Gleditsch-led company says that its core businesses are cyclical and their future prospects depend on market trends.
