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Sembcorp Q1 earnings up 4.5% at $185m

Bulk of profits comes from its utilities and marine businesses

Gross profit dipped 3.4 per cent to $312.7 million due mainly to de-consolidation of the results of Sembcorp Salalah Power and Water Company, or Salalah, a joint-venture project that was listed last year - PHOTO: BLOOMBERG

SEMBCORP Industries reported yesterday a 4.5 per cent increase in first-quarter net profit to $185 million, with the bulk coming from its utilities and marine businesses. Earnings per share came to 10.25 cents, up from 9.9 cents a year ago. "Sembcorp's main profit contributors continued to be