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Swiber profit down, but outlook “positive”


Published Nov 17, 2008
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Swiber barge work

Singapore-based offshore contruction company and fleet owner Swiber has posted a profit after tax of US$19.6 million, or seven percent lower year-on-year on less income and greater operating and finance expenses.

The result came on group revenues of US$85 million,up nearly 200 percent on transportation and installation of offshore pipelines and platforms in Malaysia, Brunei, Indonesia and for Indiaproject.

Swiber said it was conducing its business with more vigilance nowaday, but that its order book has swollen threefold to US$607.

The shallow-water oil and gas business in Asia and the Middle East was “on trend” and the oil and gas industry’s fundamentals long-term were “positive”.

Tags: Swiber Holdings Ltd




   

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