April 30, 2019 / 5:40 AM / 21 days ago

Aker Solutions ups 2019 oil services market outlook on Q1 profit beat

OSLO, April 30 (Reuters) - Norway’s Aker Solutions ASA raised its 2019 outlook for oil services market on Tuesday, after it reported a higher-than-expected order intake for the first quarter, while profits topped forecasts.

Order intake for the January-March period amounted to 5.5 billion Norwegian crowns ($635.51 million), according to the oil industry service provider’s first quarter report. Analysts in a Reuters poll on average had predicted an intake of 4.9 billion Norwegian crowns.

Earnings before interest, tax, depreciation and amortization (EBITDA), excluding one-offs, rose to 636 million Norwegian crowns from 384 million Norwegian crowns a year ago. Analysts on an average had expected 615 million Norwegian crowns. ($1 = 8.6545 Norwegian crowns) (Reporting by Terje Solsvik and Victoria Klesty; Editing by Rashmi Aich)

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