SembMarine's Q1 net profit falls 67.8% to S$1.7m

Singapore

SEMBCORP Marine (SembMarine) on Friday posted a 67.8 per cent fall in net profit for the fiscal first-quarter from a year ago, dragged by lower revenue from its rigs and floaters, and its offshore platform projects.

For the three months ended March 31, net profit stood at S$1.7 million, compared with a net profit of S$5.3 million a year earlier. This translated to earnings per share of 0.08 Singapore cent, against 0.25 cent in the same period last year.