Sembmarine keeps itself on an even keel

Singapore

SEMBCORP Marine has reported a one per cent increase in net profit to S$560 million for the year ended Dec 31, 2014, despite challenging conditions amid the volatile oil price environment.

Group turnover for 2014 grew 6 per cent to S$5.8 billion, which compares with S$5.5 billion for the corresponding period in 2013.

The higher revenue came mainly from increased contribution from the group's rig building activities and from offshore platform projects.

Earnings per share for the year were 26.83 Singapore cents, 0.8 per cent higher t…