Sembcorp Industries said group net profit grew 9% to $190.7 million in the second quarter of 2012 (2Q2012) from $175.1 million in 2Q2011, while turnover was up 23% to $2.7 billion from $2.2 billion.
In the first six months of 2012 (1H2012), net profit grew 10% to $367.4 million from $335.0 million in 1H2011, while turnover increased 22% to $5.1 billion from $4.2 billion.
Sembcorp’s main profit contributors continued to be its Utilities and Marine businesses, which contributed 51% and 41% of group net profit respectively.
The Utilities business performed well and achieved a strong 41% growth in net profit in 1H2012. The business’ 1H2012 net profit grew to $193.7 million from $137.4 million, backed by strong growth from its operations in Singapore. The Marine business contributed $155.3 million in net profit in 1H2012, compared to $182.7 million in 1H2011. The Urban Development business recorded a 15% increase in net profit to $12.3 million from $10.7 million over the same period.
For 1H2012, return on equity (annualised) for the group was 17.1% and earnings per share amounted to 20.6 cents. Economic value added was a positive $270.8 million while cash and cash equivalents stood at $2.1 billion.
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