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H1 results on Aug 2 will show if Seatrium’s fortunes are turning around
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Seatrium is riding high on strong demand for its products, such as floating production storage and offloading vessels.
PHOTO: SEATRIUM
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SINGAPORE - Strong growth in order books, buoyant oil and gas prices and a positive profit guidance have rekindled hopes that 2024 will be a turnaround year for long-suffering energy and offshore engineering giant Seatrium.
The stock has risen some 10 per cent over the past week on optimism that the company will unveil a better set of results on Aug 2, when it reports its first-half results. Adding to the optimism is the company’s profit guidance several days ago, where the company said it expects to report a net profit for the January-June 2024 period.
