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Swiber’s profit shrinks
Swiber Holdings has seen a deterioration in its latest financial results with its net profit down 14% on a year ago.
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Found an interesting story?
Swiber’s profit shrinks
Swiber Holdings has seen a deterioration in its latest financial results with its net profit down 14% on a year ago.
The marine services company said net income for the second quarter was $10.1m versus the $11.8m seen a year ago.
The Singapore-listed entity also reported a year-on-year decline of 9.4% in revenue to $219.3m, in the results released Wednesday morning.
Swiber saw a decline of over 40% in the amount of revenue secured from projects in Southeast Asia in the second quarter.
However, this was partially offset by four-fold increases in revenue from both South Asia and Latin America.
The Singapore-listed company managed to
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