SembMarine earnings hit by rig-building headwinds
Q3 profit dives 76% to S$32m; nine-month earnings down 36%
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Singapore
SEMBCORP Marine posted a 17 per cent year-on-year decline in group revenue from S$4.4 billion to S$3.6 billion for the nine months to September, on lower revenue recognition for rig-building projects and ship repair under an environment of low oil prices and oversupply in the global offshore exploration segment.
Turnover for rigs and floaters was S$2.5 billion, a 21 per cent yearon-year decline, with deliveries halved to three rigs for the nine months to September 2015.
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