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Sembcorp: Posts Underlying FY2020 Net Profit Of S$301 Million Amid A Challenging Year.

23 Feb 2021 10:29

Sembcorp Industries posted a Group net profit of S$301 million for full year 2020 excluding exceptional items and the discontinued Marine business, compared to S$456 million in FY2019. Including the Marine business and exceptional items, the Group recorded a net loss of S$997 million for FY2020, compared to a profit of S$247 million in FY2019. This was mainly due to a non-cash, non-recurring fair value loss of S$970 million recorded following the completion of the distribution in specie of ordinary shares in the capital of Sembcorp Marine in September 2020 and a net loss of S$184 million from the Marine business prior to the Distribution. In addition, the Group recorded exceptional items of negative S$144 million...

Attachments:

• SCI_FY2020_Press_Release.pdf

Source: ShareInvestor Express