Underlying profit came to $115 million, after a one-off provision. Read more at straitstimes.com.
SINGAPORE – After swimming in red ink for six years, Seatrium returned to profitability, fuelled by a tailwind of new orders on the back of buoyant energy prices.
The offshore and marine group posted underlying net profit of $115 million for the half year to end-June, thanks to strong execution and improving profit margins. This was a $379 million turnaround from losses in the year-ago period.
The underlying profit excludes a one-off provision for a settlement to MHWirth, a w