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Sembcorp Industries posts 20% higher net profit on lower cost
29 per cent drop in revenue offset by bigger decline in cost of sales
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Published Wed, Aug 14, 2019 · 09:50 PM
Singapore
SEMBCORP Industries (SCI) posted a 20 per cent increase in net profit for the second quarter, despite a 29 per cent decline in revenue as the fall was outstripped by a greater reduction in cost of sales.
The conglomerate reported a net profit of S$98 million for the three months ended June 30, up from S$82 million for the corresponding quarter a year ago. Earnings per share rose 26 per cent to 4.98 Singapore cents from 3.94 previously.
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