Singapore, May 3, 2013 : Sembcorp Marine today reported a 5% growth in net  profit from $113 million in 1Q 2012 to $119 million in 1Q 2013. Group turnover for  the first quarter of 2013 registered an 11% increase to $1.1 billion as compared  with $943 million for the corresponding period in 2012. The increase came mainly  from higher revenue recognition from rig building activities.
Group operating profit increased by 19% from $120 million in 1Q 2012 to $143  million in 1Q 2013. At pre-tax level, Group profit at $149 million was 4% higher  than the $144 million achieved in the first quarter of last year. The increased  contribution which came mainly from the higher operating margins from rig building  and ship repair businesses was offset by the lower contribution from an associated  company and the absence of interest income received in 1Q 2012 for deferred  payment granted to customers.
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