You are here

SembMarine's Q2 net profit plunges 90%

Revenue declines 25% to S$908.5 million, even as finance costs and other non-operating expenses rise

BT_20160729_ASSEMBMARINE29_2411564.jpg
Mr Wong said "with fewer drilling contracts and surplus of rigs, some drillers continue to be unable to take delivery of newbuild rigs"

Singapore

SEMBCORP Marine's (SembMarine) earnings plunged 90 per cent for the second quarter, as revenue dropped by a quarter, and finance costs and other non-operating expenses grew.

Net profit for the group fell to S$11.5 million for the three months ended June 30, down from S$

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom