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Sembcorp Industries Q3 profit falls 55.9%

27-32238780.6 (37476188) - 15_02_2016 - new Sembcorp Marine stock photos.jpg
LOSSES in the marine segment and an impairment for Gallant Venture weighed down results for Sembcorp Industries for its third quarter.

LOSSES in the marine segment and an impairment for Gallant Venture weighed down results for Sembcorp Industries for its third quarter.

Net profit nosedived 55.9 per cent to S$53.9 million from the preceding year, the group said in a Singapore Exchange filing on Thursday evening.

For the three months ended Sept 30, revenue fell 10.8 per cent to S$2.1 billion from the previous year. The decline in revenue was due partly to lower contribution from its marine business and a subsidiary in specialised construction activities, it said.

Q3 earnings per share sank to 2.47 Singapore cents from 6.29 Singapore cents in the year-ago period.

Sembcorp Industries shares closed at S$2.48 on Thursday, up three Singapore cents, before the results announcement.

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