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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Tuesday, 2 August 2011

SembMarine's Q2 net profit down 15%

SINGAPORE - Sembcorp Marine, the world's second largest rig builder, posted a worse-than-expected 15 per cent fall in second quarter net profit, despite stronger margins.

The company, a unit of waste-processor to infrastructure conglomerate Sembcorp Industry, reported a net profit of S$149.7 million (US$124.4 million) for the three months ended June 30, compared to S$176.1 million a year ago.

The profit was missing the average forecast of two analysts surveyed by Reuters of S$183.5 million.

Sembcorp said its net orderbook stood at S$5.7 billion after securing a total of S$2.6 billion in new orders since the start of the year, excluding ship repair contracts. -- REUTERS
Posted by Createwealth8888 at 19:39
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