Aker Solutions Q4 Net Profit Surges 20%

Aker Solutions ASA AKKVF reported a 20% surge in its fourth quarter net profit. Aker Solutions' quarterly net profit rose to NOK675 million, from a profit of NOK561 million, in the year-ago quarter. However, analysts were expecting a net profit of NOK339.8 million. Aker Solutions' revenue surged to NOK11.6 billion, from NOK9.79 billion, versus analysts' estimates of NOK9.08 billion. Aker Solutions' EBITDA rose to NOK1.05 billion, from NOK808 million, versus analysts' expectations of NOK778 million. Aker Solutions proposed to pay a dividend of NOK3.90 for 2011. Aker Solutions shares closed at $13.86 yesterday.