Sembcorp Industries Q1 profit down 25%

Singapore

SEMBCORP Industries' profits fell in the first quarter, weighed down by its oil-and-gas exposure through its marine arm, and also as higher borrowing costs partly from Sembcorp Marine (SembMarine) ate into the bottom line.

On Wednesday, it posted a 25 per cent fall in net profit for the first quarter to S$107 million from S$142 million in the same period a year ago. This translated into earnings per share of 5.45 Singapore cents, down 30 per cent from 7.83 cents.