Swedish shipowner Stena AB has posted weaker earnings in the first half as tanker markets disappointed.

Net profit to 30 June was SEK 399m ($50m) against SEK 946m in 2016.

Revenue grew to SEK 9.55bn from SEK 8.48bn, while costs increased to SEK 6.3bn from SEK 4.85bn.

Ro-ro operating earnings rose to SEK 57m from SEK 22m, while the loss from tankers was SEK 98m, from SEK 20m a year ago.