Reuters: Hot Stocks: Singapore's Sembcorp Marine falls after Q1 earnings

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Singapore's Sembcorp Marine falls after Q1 earnings May 10th 2012, 01:29 SINGAPORE | Wed May 9, 2012 9:29pm EDT SINGAPORE May 10 (Reuters) - Shares of Sembcorp Marine Ltd fell as much as 5 percent to a near four-month low after it reported a slide in its first quarter earnings. By 0123 GMT, shares of Sembcorp Marine, the world's second largest oil rig builder, had recouped some of its losses and were down 3.4 percent at S$4.62 on volume of 4 million shares. This was compared to an average full day volume of 8.5 million shares over the last five sessions. Sembcorp Marine reported a 25 percent drop in first quarter net profit to S$113 million on Wednesday, partly due to lower margins on the rigs it delivered compared to a year ago. (Reporting by Charmian Kok)

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