New record for Grenland

Norway’s Grenland Group broke a record in the second quarter with gross operating revenues hitting NOK 500 million, up 54% compared with the same quarter in 2007.

Grenland also posted a 23% rise in operating profit, delivering an EBITDA for the quarter of NOK 22.1 million, compared with NOK 17.9 million for the same quarter in 2007.

The engineering company’s order backlog stood at NOK 1,473 million at the end of the second quarter, 29 per cent higher than at the same point last year.

Grenland said the market is buoyant and the outlook is strong for the company, which has recently signed its first contract in China.