SembMarine's Q2 profit halved to S$5.59 m

Singapore

THE group chief executive of Sembcorp Marine, while recognising that lower contributions from rig-building and offshore platform projects have impacted the yard group's overall performance for the first six months, has identified early signs of what could spell an eventually robust sectoral recovery.

SembMarine saw its net profit dive 51.2 per cent to S$5.59 million for the second quarter ended June 30, 2017, on lower gross profit from its portfolio of offshore and marine businesses.