I.M. Skaugen ASA (IMS) has posted a preliminary EBITDA result of NOK 75 mill for 1998 (NOK 116 mill for 1997). The net income shows a loss of NOK 132 mill after ordinary depreciation of NOK 109 mill, a NOK 27 mill writedown of vessels and a USD/NOK foreign currency losses of NOK 16 mill. The market for the transportation of petrochemical gases was weaker in 1998 than in 1997 for NGC, but it has been a strong year for SPT in terms of the number of lightering operations and EBITDA result. IMS's new activities in China have been initiated, and the Group's many new measures to further reduce costs and improve customer service at the same time has shown results and should pay off in 1999.
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Preliminary results 1998