SembMarine shares fall double digits on poor Q4 results

Singapore

SHARES of Sembcorp Marine sank by as much as 14.4 per cent a day after the firm posted a disappointing set of results for its fourth quarter ended Dec 31. The stock tumbled to an intra-day low of S$2.25 before closing at S$2.33, 11.4 per cent below Wednesday's close of S$2.63.

The drop follows SembMarine's results announcement on Wednesday evening, in which the rig-builder booked a net loss of S$33.8 million for Q4, reversing from the S$34.3 million net profit the year before, and missing analysts' estimates by …