Sembcorp’s 1H earnings plunge 47.1% to $193.5 mil on lower profits from all segments

SINGAPORE (Aug 2): Sembcorp Industries, the utilities and marine company, posted a 47.1% fall in 1H16 earnings to $193.49 million from a year ago.

Revenue for the six months to June fell 20.8% to $3.74 billion as the group saw declining net profits from its utilities, marine and urban development segments.

Net profit from utilities came in 31% lower at $150 million in 1H16 compared to 1H15 when there was a $54.7 million gain from the divestment of Sembcorp Bournemouth Water Investment (SBWI) recognised in 2Q15.

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