Aker Solutions has posted its fourth quarter earnings above expectations amid the oil price decline.
The Norwegian oil services firm has sent its stocks rising by 10% following its results announcement.
The company said its order backlog had fallen only marginally despite cuts by some of the bigger oil firms.
A spokesman said: “Major western oil companies are expected to continue exercising strong capital and cost discipline over the next one to two years, a trend that has been reinforced by falling oil prices.
“Activity in the North Sea, the company’s largest regional market, is expected to be lower over the next one to two years.”
The fourth quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 19% to $103million.
Its order backlog fell slightly to 48.3 billion crowns from 49.0 billion three months earlier, but came above a mean forecast for 44.7 billion.
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