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Tough market forces SBM Offshore to further layoffs

Dutch SBM Offshore declined on revenue as well as order intake in the first quarter. In line with expectations in a difficult market, says the company, which also announces additional layoffs.

SBM Offshore achieved a revenue of USD 601 million in the first three months of the year, compared to USD 782 million in the same period last year, corresponding to a setback of 23 percent.

The company's order intake also declined in the first quarter where SBM Offshore secured new orders for USD 208 million, down 15 percent from USD 244 million in the first quarter 2014, says the company in a financial statement.

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