Profitfor the first three months of 2014 rose to SGD 122m ($97m) compared to SGD 119mthrough the same period of last year.
Sembcorpsaid the increase was mainly down to rig building and other offshore projects.
TheSembcorp group has a net order book of SGD 12.9bn stretching out to 2019including some SGD 1.6bn of orders secured since the start of this year.
“Longterm fundamentals driving the offshore exploration and production market remainstable, underpinned by firm oil prices,” Sembcorp said in a statement to theSingapore stock exchange.
Sembcorpsaid a contract from Transocean to build two Jurong Espadon III drillships to itsproprietary design drillship was a strong endorsement of the corporatestrategy.
Demandfor Sembcorp’s four VLCC repair docks continues to be strong with the facility wellplaced to attract not only large tankers but new generation mega-containershipsand passenger vessels.
Constructionof the Estaleiro Jurong Aracruz shipyard in Brazil is progressing with Sembcorp saying it shouldbe able to commence initial operations in the second half of this year ahead ofcompletion in 2015.
Sembcorpgroup turnover for the first quarter of 2014 was 27% up on a year on year basisat SGD1.34bn.
