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SembMarine 2Q earnings halved to $5.6 mil

Jude Chan
Jude Chan7/27/2017 05:55 PM GMT+08  • 1 min read
SembMarine 2Q earnings halved to $5.6 mil
SINGAPORE (July 27): Sembcorp Marine's earnings for the second quarter ended June sunk 51.2% to $5.6 million from $11.5 million a year ago.
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SINGAPORE (July 27): Sembcorp Marine's earnings for the second quarter ended June sunk 51.2% to $5.6 million from $11.5 million a year ago.

This bring earnings for the first half of 2017 to $45.1 million, down 31.9% from $66.3 million in 1H16.

On a quarterly basis, net profit for 2Q decreased mainly due to lower revenue, as well as foreign exchange translation loss on the USD borrowings for SembMarine’s Brazil yard.

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