Sembcorp Marine says it achieved a record quarter with PATMI at $145 million, the highest quarterly PATMI attained.

The group says turnover at $1.52 billion was 33% higher as compared with the $1.14 billion registered for the corresponding period in 2008.

Group operating profit at $174 million was 22% higher than the same quarter in the previous year. Group pre-tax profit at $183 million was marginally higher than the $181 million achieved in 3Q 2008 attributable to higher operating margins from rig building projects and offset by the substantially lower contribution from associate Cosco Shipyard Group.

On a nine-month basis, group turnover at $4.38 billion was 27% above the $3.45 billion achieved for the corresponding period in 2008. Group operating profit increased 43% to $475 million as compared with $333 million recorded in the previous year. At pre-tax level, group profit increased 12% to $513 million from $457 million in 9M 2008.

The increase was due mainly to the higher operating margins from rig building, offshore and ship conversion projects and offset by the substantially lower contribution from Cosco Shipyard Group.

For 9M 2009, group attributable profit at $403 million was 12% higher compared with the same period in 2008.

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