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Sembcorp H1 profit rises 55% to S$602 million on lower cost of sales
$Sembcorp Ind (U96.SG)$ on Friday (Aug 4) posted a 55 per cent rise in net profit for the first half year ended June to S$602 million from S$389 million during the same period the year before.
This came after the energy and urban solutions group recorded a 17 per cent drop in cost of sales to S$2.8 billion from S$3.4 billion, which more than offset a fall in revenue.
The results translate to earnings per share (EPS) of S$0.2971 for the half year, higher than the S$0.2748 recorded in the previous corresponding period. On a continuing operations basis, EPS was S$0.3408, an increase from the S$0.2182 in H1 FY2022.
Sembcorp’s turnover fell 6 per cent to S$3.7 billion from S$3.9 billion previously.
It will pay an interim dividend of S$0.05 per share on Aug 22, after the record date on Aug 15.
Sembcorp’s shares closed up 1.3 per cent or S$0.07 at S$5.60 on Thursday.
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