Reach Subsea’s financial results for 2018 have been boosted by increases in vessel utilisation and earnings, both of which more than doubled compared to the previous year.
The Oslo-listed company recorded a loss of NOK 12.1m ($1.4m) for the full year, less than half of the NOK 30.8m it lost in 2017.
“The increase compared with the same period last year is due to increased activity and a larger number of projects being managed internally by Reach Subsea,” the company said in its full-year report for 2018.
