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Rig projects push Sembcorp Marine's Q4 net profit up 9% to $182.4 million

Published on Feb 24, 2014 6:32 PM

Fourth-quarter earnings at Sembcorp Marine (SembMarine) climbed 9.2 per cent from the year before to $182.4 million after it recognised more revenue from one of its drillships and other rig-building activities.

Revenue for the three months to Dec 31 last year soared more sharply in the period, by 22.8 per cent to $1.69 billion, it said on Monday.

But this was partially offset by lower takings from its offshore and conversion sector, which slid 5 per cent to $313.6 million.

Earnings per share for the quarter stood at 8.73 cents, up from eight cents a year ago.

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