The offshore vessel owner posted profit of $31.2m for 2014, against $90.9m in 2013.
Revenue went down one third from $1.04bn to $726.5m as significant projects were recognized in the financial year 2013.
But the company remains optimistic about the future as it recently sealed two of the largest deals in its history, worth more than $1bn.
It explained that despite the downturn in the oil and gas market, Swiber is not so affected since it mostly operates in shallow waters.
Francis
