Civmec's Q4 profit drops 35.4% to S$956,000
Group's performance hit by joint-venture loss, higher admin costs
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Singapore
A SHARE in the loss of a joint venture along with higher administrative expenses dented results for Civmec for its fourth quarter.
The Australia-headquartered construction and engineering services company for the oil and gas, metals and minerals, infrastructure and defence sectors said that the higher administrative costs reflected the group's investment in securing large engineering, procurement, and construction projects.
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