- Half-year net profit of US$ 85.3 million, 39% below 2007 (US$ 139.2 million) due to cost overruns on certain turnkey projects. Return on equity of 12.3% (23.7% in 2007);
- Return on capital employed 9.3% (15.9% in 2007) for the six month period;
- Capital expenditure of US$ 516 million during the first six months of 2008;
- New orders amount to US$ 2,986 million for the first six months of 2008. - Backlog at 30 June 2008 amounts to US$ 9,466 million;
- Full year 2008 forecast profit up to 20% below original target (i.e. approximately US$ 225 million), in line with 11 July 2008 press release;
- Intention to maintain dividend at 2007 level (US$ 0.93 per share).

Tony Mace, new CEO, commented as follows:
"In 2005, anticipating the long-term increase in demand for SBM's products, Management has decided to take advantage of the prevailing buoyant market conditions by bidding and winning several large contracts, with the aim to grow the Company in terms of execution capacity and financial results. This however has unfortunately coincided with the general global overheating of the suppliers and yards capacity. As a consequence, we have suffered from significant budget and schedule overruns on a few projects which have affected the 2007 and 2008 results.

When these problems materialized in 2006, Management has taken steps to implement additional tighter controls for bidding, in order to minimize budget and schedule execution risks. As a result, costs for all subsequent projects are now under control. Increased controls for cost forecasting are also being implemented on current and new projects.

The projects which were contracted in 2005/2006 are now being delivered in 2008 and the current order backlog is composed of good quality projects. The market continues to be robust for the Company's products in the foreseeable future."