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Business Times - 24 Feb 2009
SembMarine's Q408 net profit surges after 2007 forex shock
By JOYCE HOOI
Marine engineering group Sembcorp Marine posted a $69.43 million net profit for the fourth quarter of FY2008 ended 31 December 2008, against a $792,000 net profit for the same period a year ago which had been hampered by foreign exchange transactions of related expenses.
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For FY2008, the group posted a 78.4 per cent increase in net profit from $240.99 million to $429.92 million due to higher revenue and operating margins from its rig building and ship repair businesses. Its earnings per share stood at 3.36 cents for the quarter and 20.72 for the year, against 0.04 cents and 11.63 cents for the same periods respectively a year ago. Its share price closed at $1.38 today, down 6 cents.