Norway-based supplier contractor Aker Kvaerner noted a “best-ever” fourth-quarter and financial year for 2007 despite a billion kroner in tax that slashed net profit.

The engineering group achieved net profit of NOK625 million, ($114.7 million), a NOK600-million improvement over the year-ago span. Sub-sea revenues lead the way, accruing to a record NOK9.85 billion ($1.8 billion) for the year, a 42-percent improvement over 2006 and up by about a third in the final three months.

Group profit for the year was NOK2.46 billion, or roughly double 2006’s result on revenues that reached NOK56.96 billion, 15 percent higher year-on-year.

Tags: Aker Kvaerner