Swiber Q1 profit doubles to US$20.07m

By

Carine Lee

        

Swiber Holdings doubled its net profit to US$20.07 million from US$8.65 million a year ago for the fiscal first quarter ended March 31, 2013.

Turnover rose 59.3 per cent year on year to US$309.74 million from US$194.43 million.
Earnings per share were 3.3 US cents, up from 1.5 US cents a year earlier.

Swiber's full-year net profit up 42%

By

Lee Meixian

         

 

In a separate announcement, Swiber said it had clinched contracts worth US$153 million - its first wins in 2013 - mostly to transport and install pipelines and offshore structures in South-east Asia. - PHOTO: SPH

Swiber Holdings' net profit for the full year ended Dec 31, 2012 rose 42.4 per cent to US$45.7 million (S$56.6 million), on the back of a 45.5 per cent increase in revenue to US$952.2 million from a year ago.

Both its net profit and revenue were the highest since its listing in 2006, the offshore construction and support services provider said on Wednesday.

It did not provide separate figures for its fiscal fourth quarter.

"The strong revenue growth was driven by various offshore construction contract wins in Latin America and South-east Asia," it said.

Swiber booked nearly a 6% rise in profits during the first quarter

Net profit for the three months to 31 March was $12.5 million, compared to the $11.9 million booked during the first quarter of 2011.

The rise in profits came as revenues jumped 29% to $194.4 million which Swiber attributed to progressive revenue recognition from a number of contracts it was awarded in 2010 and 2011 in the South East Asia and South Asia regions.

“Our revenue growth bears testament of our strong execution, in terms of delivering on contracts won in the last two years,” Swiber chief executive Francis Wong said.
“Even so, we have not been resting on our laurels. We are pleased to have achieved new milestones in the first quarter of this year, both in terms of larger contracts secured, as well as breaking into new and vibrant markets, including the Gulf of Mexico and the Middle East.”

Wong also gave a positive outlook for the year ahead, expecting “robust” demand for offshore support services which he said the company was “well-positioned” to capture.
As of May, Swibers order book stood at about $1.2 billion which it expects to contribute to its results over the next two years.

Swiber Holdings FY2011 profit falls 14% despite record turnover

By CARINE LEE


Swiber Holdings Limited on Monday said its net profit for the fiscal year ended Dec 31, 2011 decreased 14 per cent year on year to US$32.07 million from US$37.27 million.

The group had recorded net revenue of US$654.49 million, representing a 40.5 per cent increased from a year ago.

Higher turnover was offset by higher administrative expenses in line with business expansion, a decrease in gain on asset disposal, higher finance cost, as well as lower share of profit from associates and joint ventures.

Earnings per share decreased to 6.3 US cents, from 7.4 US cents a year ago.

Swiber scores a hat-trick

Singapore-based supply vessel player Swiber Holdings said Friday it has landed three new contracts worth $82 million.


Upstream staff 12 August 2011 12:58 GMT

Swiber did not give specific contract details but said the projects were for Southeast Asian oil companies and include pipeline installation work, mobilisation of marine vessels, equipment, and personnel.

All three projects will start straight away with completion targeted for the second quarter of next year.

To date, Swiber has secured new contracts totalling $377 million this year.

The company also announced today that second quarter net income had risen 13 % to $14.3 million compared to $12.6 million in the same period last year.

SWIBER ACHIEVES 9.4% INCREASE IN NET PROFIT

SWIBER ACHIEVES 9.4% INCREASE IN NET PROFIT TO US$24.5 MILLION IN 1HFY2011

- Revenue rises 73.1% to US$331.2 million

- Strong orderbook of US$722.0 million, expected to contribute to Group’s results over the next two years

- Cash and cash equivalents increases 32.4% to US$94.2 million as at June 30, 2011

Swiber - Sold $0.96, ROC 5.5%

Round 1: ROC 5.5%, 329 days, B $0.90 S $0.96

This is one of those lame zebras caught in 2008 in the bush fire and nearly got burnt.

So together with some dividends from Semb Marine received today, Sep 09 will still be a positive (window dressing ha ha).

Will Sep 09 be remembered as another nightmare in the market?