Sembcorp Industries more than doubles Q4 profit

THE turnaround in the profitability of its marine business and a better performance from the urban development division helped Sembcorp Industries to more than double its net profit for its fourth quarter.

Net profit rocketed to S$147.5 million, from S$60.8 million for the year-ago period, the group said in a Singapore Exchange filing on Thursday evening.

For the three months ended Dec 31, revenue dropped 16.3 per cent to S$2.03 billion from the previous year. The drop in revenue was due mainly to the lower revenue in its marine business, it said.

Earnings per share went up to 7.71 Singapore cents from 2.86 Singapore cents in the preceding year.

The group has proposed a final dividend of four Singapore cents a share, from six Singapore cents for the previous year.