Orsted ORSTED -3.64%decrease; down pointing triangle reported lower second-quarter profit, hit by write-downs, but said all projects are on schedule and within planned costs.
The Danish renewable-energy company said Thursday that quarterly net profit sank to 518 million Danish kroner ($79.9 million) from 3.10 billion kroner previously. Higher taxes and noncash impairment charges this year due to increases in long-dated U.S. interest rates, as well as last year’s gains on asset sales, caused the drop.
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