Sembcorp doubles dividend on higher earnings, shuffles business leadership

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 S$9 million net loss from discontinued operations related to the disposal of Chongqing Songzao Sembcorp Electric Power.

Excluding discontinued operation, net profit for the half-year period would have been S$480 million, a 17 per cent increase from S$412 million in the previous corresponding period. That pointed to earnings per share of S$0.2691, up from S$0.2312 in H2 FY2023.

Sembcorp posted revenue of S$3.2 billion for the current period, down about 5 per cent from S$3.4 billion in the prior year.