JAPANESE floater giant Modec posted a large rise in revenues in the first six months of the year, but saw its bottom line slip. The offshore contractor recorded sales of 148.43 billion yen ($1.37 billion) in the first half as against 112.84 billion yen a year earlier. The cost of sales, however, rose appreciably to 144.47 billion yen from 96.39 billion yen in the first six months of 2019. This was largely responsible for the drop in net profit to 1.15 billion yen as against 10.72 billion a year earlier.
展开▼
