Sembcorp Marine Q4 profit down 4.6%, rig building revenue falls

[SINGAPORE] Singapore's Sembcorp Marine Ltd said on Thursday its net profit in the fourth quarter fell 4.6 per cent, as revenue from rig building activity dropped and as the year-ago quarter was boosted by a tax write-back.

Sembcorp Marine, engaged in rig building and ship repair, posted a fourth-quarter net profit of S$174.05 million. It posted a full-year profit of S$560.13 million, beating a mean forecast of S$549.44 million by 22 analysts, Reuters data showed.

The company declared a final cash dividend of 8 Singapore cents per share, compared with 6 cents a year earlier.

REUTERS