Sembcorp Industries posts strong H2 earnings on higher energy prices
SEMBCORP Industries U96 : U96 0%has reported a net profit of S$233 million for the 6 months ended Dec 31, 2021, reversing its loss of S$866 million a year ago.
This comes as turnover from continuing operations increased by 59 per cent year-on-year to S$4.5 billion, from S$2.83 billion, the group said in its financial results on Wednesday (Feb 23).
The energy and urban development company attributed turnover growth to higher energy demand as economies recovered from the pandemic, as well as high fuel prices during the current period that led to increases in power prices, despite maintenance shutdowns in Singapore, Myanmar and India.
Earnings per share (EPS) from continuing operati…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered