You are here

SembMarine warns of Q4 loss amid challenging environment

SembMarine Integrated Yard @ Tuas

SEMBCORP Marine expects to post a net loss in the fourth quarter and a significant drop in net profit for 2015, the rigbuilder announced on Tuesday evening.

The company cited a challenging operating environment and customers deferring or seeking to defer their rig orders due to the slowdown.

SembMarine reported a net profit of S$174 million for the fourth-quarter ended December 2014. For all of 2014, the company had a net profit of S$560.1 million.

SembMarine shares closed flat at S$2.06 on Tuesday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to