Sembcorp Q3 profit down 38% on lower revenue and higher finance costs

Singapore

HIGHER finance costs and lower revenue eroded third-quarter earnings for Sembcorp Industries, which also wrote down S$56.3 million on its utilities business in Singapore.

Net profit for the group tumbled 37.7 per cent to S$33.6 million from the previous year, said the group in an exchange filing. This translates to earnings per share of 1.23 Singapore cents, down from 2.47 Singapore cents a year ago.