Noble Group cuts jobs as Q2 profit dips 5%

Company embarks on various cost reduction initiatives aimed at yielding US$70m in annual cost savings

Tue, Aug 11, 2015 - 5:50 AM

Lynette Khoolynkhoo@sph.com.sg@LynetteKhooBT

Singapore

NOBLE Group, which saw a 5 per cent drop in net profit for the second quarter ended June 30 to US$62.61 million - dragged down by commodities weakness - has embarked on various cost reduction initiatives to potentially yield US$70 million in annual cost savings.

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