Vard issues profit warningNews // October 15, 2015
The Board of Vard Holdings Limited has issued a profit warning regarding the financial results for the third quarter ended 30 September 2015 and full year ending 31 December 2015.
In a statement, Vard said: "With reference to the disclosures given during the first and second quarter in 2015 regarding the operational challenges at the Brazilian shipyards of the group, combined with the negative trend
in the Brazilian economic and political environment, the results for the third quarter ended 30 September 2015 and the full year ending 31 December 2015 will be negatively affected."
The details of the group’s performance will be disclosed when it announces its unaudited financial results for the third quarter on 11 November 2015.
In the meantime, the Board of the Company has advised shareholders and investors to exercise caution when dealing in the shares of the company.