SembMarine Q3 net up 12.3%

SEMBCORP Marine posted a 12.3 per cent year-on-year rise in its third-quarter net profit to $129.7 million from $115.5 million, thanks to a higher operating profit and foreign exchange gain.

Turnover for the three months ended Sept 30 surged 86 per cent to $1.66 billion from $892 million a year earlier. It attributed this to higher revenue contributions from the rig building and repair sectors.

Earnings per share were 6.21 cents, up from 5.53 cents previously.