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Sembcorp: Makes Progress On Strategy, Strong Energy & Urban Development Performance Drives Earnings.
21 Feb 2019 10:58Sembcorp Industries delivered a creditable set of results for full year 2018 with good performance from its Utilities and Urban Development businesses mitigating a weak performance from the Marine business. The Group posted turnover of S$11.7 billion and net profit of S$347 million in FY2018, compared to S$9.0 billion and S$383 million respectively in FY2017. Net profit from the Utilities business more than doubled to S$312 million, with its India operations achieving turnaround to profitability. The Urban Development business turned in a record net profit of S$86 million. Amidst difficult conditions for the offshore and marine industry, the Marine business recorded a net loss of S$48 million. Excluding the Marine business, the Group delivered profit growth of 75%, with net profit at S$395 million compared to S$226 million in FY2017...
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Source: ShareInvestor Express
