Sembcorp Marine (SCMN.SI), the world’s second largest rig builder, posted a worse-than-expected 15% fall in second quarter net profit, despite stronger margins.
The company, a unit of waste-processor to infrastructure conglomerate Sembcorp Industry (SCIL.SI), reported a net profit of $149.7 million for the three months ended June 30, compared to $176.1 million a year ago.
The profit was missing the average forecast of two analysts surveyed by Reuters of $183.5 million.
Sembcorp said its net orderbook stood at $5.7 billion after securing a total of $2.6 billion in new orders since the start of the year, excluding ship repair contracts.
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