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Weaker marine earnings drag down results at Sembcorp Industries

Published on Feb 26, 2013 9:21 PM
 
A drop in earnings at its marine division hit the bottom line at Sembcorp Industries in the fourth quarter. Net profit for the three months to Dec 31 was $204.7 million, down 18.7 per cent on the $251.9 million recorded a year earlier. -- FILE PHOTO: BLOOMBERG

A DROP in earnings at its marine division hit the bottom line at Sembcorp Industries in the fourth quarter.

Net profit for the three months to Dec 31 was $204.7 million, down 18.7 per cent on the $251.9 million recorded a year earlier.

The hit came mainly from the marine division, which contributed less profits due to the lower margins from new-design rigs.

Revenue climbed 25.4 per cent to $2.82 billion for the quarter, with all divisions reporting higher turnover.

 
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