Sembcorp H2 profit rises 14% to S$471 million

SEMBCORP Industries on Thursday (Feb 27) reported a 14 per cent rise in total net profit to S$471 million for the second half ended Dec 31, 2024, from S$412 million in the year-ago period.

This accounts for exceptional items including disposal of assets and a gain on a “bargain purchase” on an acquisition in India, among others.

There was also a net loss from discontinued operations related to the disposal of Chongqing Songzao Sembcorp Electric Power.

Excluding the exceptional items, net profit for the half-year period would have been S$487 million, a 17 per cent increase from S$416 million in the previous corresponding period.

That pointed to earnings per share of S$0.2641, up from S$0.2312 in H2 FY2023.

The energy and urban solutions provider posted revenue of about S$3.2 billion for the current period, down from around S$3.4 billion in the prior year.

Shares of Sembcorp closed flat at S$5.88 on Wednesday.