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Sembcorp Industries Q1 profit down 25%
Bottom line hit by oil-and-gas exposure through marine arm and higher borrowing costs
Add BT as a preferred sourcePublished Wed, May 4, 2016 · 09:50 PM
Singapore
SEMBCORP Industries' profits fell in the first quarter, weighed down by its oil-and-gas exposure through its marine arm, and also as higher borrowing costs partly from Sembcorp Marine (SembMarine) ate into the bottom line.
On Wednesday, it posted a 25 per cent fall in net profit for the first quarter to S$107 million from S$142 million in the same period a year ago. This translated into earnings per share of 5.45 Singapore cents, down 30 per cent from 7.83 cents.
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