Swiber reports surge in profit

News - August 15, 2012

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Swiber Holdings Limited has reported a 66.0 per cent surge in net profit to US$20.9 million for the three months ended June 30, 2012.

This was achieved on the back of a 27.1 per cent increase in revenue to US$229.6 million over the same period.

Francis Wong, Group Chief Executive Officer and President of Swiber, said: “We are heartened to see that our orderbook remains robust at approximately US$1.6 billion, including approximately US$1.0 billion from new contract wins this year.

"These were secured from oil majors for projects to be performed in Mexico, the Middle East, Southeast Asia and South Asia, which will give us strong order book that provide visibility beyond 2013."

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