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Sembmarine's Q3 profit rises 1.8% to S$132m

Despite low oil price environment, group believes long-term fundamentals driving E&P market remain stable

Nisha Ramchandani

Published Wed, Nov 5, 2014 · 09:50 PM

Singapore

RIG-BUILDER Sembcorp Marine reported a 1.8 per cent increase in net profit to S$132 million for the third quarter ended Sept 30 on the back of higher profit contribution from rig-building and fixed-platform segments.

Turnover rose 3.2 per cent to S$1.71 billion due to increased contribution from the group's rig-building activities and from offshore-platform projects. Earnings per share for the quarter worked out to 6.32 Singapore cents, up from 6.21 cents in the corresponding quarter a year earlier.