Norwegian sub-sea mooring and cable maker Scan Subsea has posted second-quarter earnings before tax and debt-paying of NOK21.9 million ($3.7 million ), up year-on-year by some 2 million kroner ($338.8) on strong demand for wind power.
New new business was marked by NOK1.5 billion ($254 million) in “quotations and tenders” for cables and fibre moorings.
Scan sold NOK47.8 million ($8 million) in cables during the quarter, up over 22 percent year-on-year.
Much new business comes from the offshore wind-turbine business, which Scan managers call “a new growth driver”. They cited 26 percent growth in the wind-farm market in 2006, with offshore wind power expected to grow from 2 percent to 50 percent of total wind energy production.
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