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Sembcorp Marine Q3 Tumbles as Rig Projects Fall Short

Posted by October 22, 2015

Photo: Sembcorp Marine Ltd.

Singapore's Sembcorp Marine Ltd said on Thursday its third-quarter net profit shrunk 76 percent on the year due to lower contribution from rig building projects.

Sembcorp Marine, one of the world's largest offshore drilling rig producers, posted a net profit of S$32.1 million ($23.1 million) from revenue of S$1.1 bilion, which fell over a third on the year.

 

(Reporting by Rujun Shen)

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