Subsea 7 profit and revenues down on lower pricing and activity levels

UK subsea engineering, construction, and services company Subsea 7 saw a decrease in revenues in the third quarter of 2019 due to lower activity levels in the Renewables and Heavy Lifting business and a smaller profit due to lower pricing and competitive market environment.

Subsea 7 on Thursday posted revenues of $951 million for the third quarter of 2019, which is 12% lower compared to $1.08 billion revenues in the prior-year period.

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