SINGAPORE (Aug 18): Civmec, the multi-disciplinary heavy engineering services provider, saw earnings fall 77.4% to $1.5 million in 4Q16, from $6.5 million in the corresponding period last year.

This was mainly attributed to the absence of a one-off tax gain in 4Q15 from the forming of a tax consolidated group.

Revenue slipped 22.9% to $88.4 million in 4Q16, down from $114.7 million a year ago, partly due to an almost 10% decline of the Australia dollar against the Singapore dollar.

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