Saipem 1Q revenue, profit down

Italian oilfield services contractor Saipem recorded a drop in revenue and profit in the first quarter of 2017, however it said the drop was in line with expectations.

Revenue fell to 2.26 million euros, from 2.84 million a year ago. Net profit was 47 million euros, a decrease from 61 million in the first quarter of 2016.

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