Sembcorp Q1 profit falls 34% in absence of one-time gain
Bottomline hit by sharp drop in non-operating income due to marine division's sale of Cosco stake in Jan 2017
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Singapore
SEMBCORP Industries' earnings slumped 34 per cent in the first quarter, despite a rise in revenue, in the absence of a one-off gain from the disposal of Cosco Shipyard Group in the year-ago period.
The utilities, marine and urban development group on Thursday reported a net profit of S$76.7 million for the quarter ended March 31, down from S$116.3 million a year ago. This translates to earnings per share of 3.64 Singapore cents, down from 5.98 Singapore cents a year ago.
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