SembMarine Q2 profits down 90 per cent

Sembcorp Marine CEO Wong Weng Sun.
Sembcorp Marine CEO Wong Weng Sun.ST PHOTO: MARISSA LEE

SINGAPORE - Sembcorp Marine has posted a net profit of S$11 million in the second quarter, down 90 per cent from the same period a year ago.

Revenue in the three months ended June 30 fell 25 per cent to S$908 million.

Second quarter earnings per share stood at 0.55 cents, down from 5.23 cents a year ago.

Net asset value per share was 120.29 cents as at June 30, up from 120.24 cents as at Dec 31.

The board has proposed an interim cash dividend of 1.5 cents per share, down from 4 cents per share in the first half of last year. It represents a dividend payout ratio of 47 per cent in the first half, up from 39 per cent in the first half last year.