BH Global Marine posts lower H1 earnings
Singapore-based BH Global Marine, solutions provider to the marine and offshore and oil and gas industries, posted lower earnings in the first half of 2012, Seatrade Asia online reports.
Net profit in the first six months fell to S$5m ($4m) compared to S$7.7m in the same period of last year, according to the Singapore-listed company.
Revenue also slipped to S$60.8m from S$76m a year ago.
“The general marine market remains weak and global uncertainties in the macro environment add on to the worries,” said Vincent Lim, ceo of BH Global.
“Order flows for new marine vessels are diminishing and yards feel pricing pressure to maintain competitiveness and market share,” he added.