Sembcorp Marine 1st-Quarter Net Profit Down 28% on Year
Sembcorp Marine Ltd. (S51.SG) on Thursday reported a 28% fall in first-quarter net profit year over year.
Net profit in the March quarter was 39.5 million Singapore dollars (US$28.3 million), compared with S$54.8 million in the same period last year, Sembcorp Marine said in a regulatory filing. That included a S$47 million gain from the sale of the company's 30% equity stake in Cosco Shipyard Group Co., which was completed in January.
Revenue fell 17.2% from a year ago to S$760.1 million in the first quarter.
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(END) Dow Jones Newswires
April 27, 2017 06:48 ET (10:48 GMT)