SINGAPORE: Utilities conglomerate SembCorp Industries Ltd reported an 18.2% rise in first-quarter net profit yesterday, helped by gas sales, but warned of a difficult 12 months ahead.
For the three months to March, the group's net profit rose to S$38.2mil from S$32.3mil a year ago, thanks to the strong performance of its utilities operations. Revenues declined, however, by 2.1% to S$911.7mil, hit by the disposal of the group's non-core business, Singapore Food Industries Ltd, which provides food to Singapore's military.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
