Subsea 7 posts higher profit

UK-based subsea engineering, construction and services company Subsea 7 saw an increase in its profit and revenues during the second quarter of this year lifted by renewables and heavy lifting business unit. 

Subsea 7 on Wednesday posted a profit of of $146 million for the second quarter 2017, up $10 million or 7% compared to 2Q 2016 and profit of $136 million.

The company’s net income for the quarter benefited from an increase of $58 million in net operating income compared with 2Q 2016.

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