Sembcorp's Q4 profit up 7.5%, boosted by gains in utilities business
Add BT as a preferred sourceSingapore
DESPITE the trying time for the oil services sector, following the steep plunge in crude prices, Sembcorp Industries, one of the world's largest rig-builders, achieved a profit rise for its fourth-quarter earnings - buoyed by gains from its utilities business.
For the three months ended Dec 31, 2014, Sembcorp's net profit grew 7.5 per cent to S$240.62 million, mostly due to higher contributions from its utilities business in China and the UK, which contributed to a 44 per cent gain in the segment's earnings to S$109.40 million.
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
