Subsea 7 Sees Profits Slip

Engineering and construction specialist Subsea 7 has seen its profit cut in the quarter ended June 30, 2019 as activity drop continues in renewables and heavy lift business units.

The Oslo-listed firm posted quarterly profit of $24 million, or $9 cents per diluted share, on revenue of $958 million, versus profit of $74 million, or $24 cents per diluted share on revenue of approximately 1.2 billion same time last year.

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