Swiber sees slump in earnings

摘要

Swiber Holdings Ltd has reported a slump in its earnings for the three months ended 31 March 2015 (first quarter 2015) but says it is clearing the deck for a business pick-up in the coming months. Net profit for the group stood at US$70,000 against US$52.8 million. Net attributable loss to shareholders amounted to US$1.3 million compared to a profit of US$48.0 million in the same period last year. The declines were due mainly the depletion of the group's orderbook last year and the absence of a US$95.1 million gain from the disposal of a group of subsidiaries, which bolstered the previous comparable numbers. Reflecting last year's slimmer pipeline, group revenue fell 17.3 per cent to US$164.9 million compared to US$199.5 million in the first quarter of 2014.