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Sembcorp Marine shares fall 9.5% after results disappoint

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Sembcorp Marine shares fall 9.5% after results disappoint

Reuters Published on Thu, Feb 22, 2018 / 3:28 PM GMT+8

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SINGAPORE (Feb 22): Shares of Singapore's SembMarine fell as much as 9.5% on Thursday, a day after the company swung to a loss in its fourth quarter on the back of lower business volumes, and posted a smaller-than-expected annual profit.

As at 3.26pm, shares of the company were trading down 25 cents at $2.38, their weakest level in a week. The stock had risen nearly 44% so far this year before Thursday's drop.

Sembcorp Marine reported its first operating loss since 2004, with the exception of the fourth quarter of 2015, when it was hit by a massive one-off provision, according to an estimate by DBS analyst Ho Pei Hwa.

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Sembcorp Marine shares fall 9.5% after results disappoint

Hot Stock

Sembcorp Marine shares fall 9.5% after results disappoint

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Sembcorp Marine shares fall 9.5% after results disappoint

Hot Stock

Sembcorp Marine shares fall 9.5% after results disappoint

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