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SembMarine expects protracted O&M down-cycle

Q1 profit dives 48.2% to S$54.83m amid sharp fall in turnover and gross profit margin

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Sembcorp Marine is expecting the down-cycle in the offshore & marine industry to be more protracted than in previous cycles.

Singapore

SEMBCORP Marine is expecting the down-cycle in the offshore & marine industry to be more protracted than in previous cycles. The offshore & marine player said this on Wednesday as it posted a 48.2 per cent year-on-year plunge in first-quarter net profit to S$54.83