Sembcorp executives guide for higher dividends, earnings as H2 profit rises 15% to S$412 million

SEMBCORP Industries posted a 15 per cent year-on-year rise in net profit to S$412 million for the second half of its fiscal year ended Dec 31, 2023.

This was mainly due to higher contributions from the gas and related services, as well as renewables segments, the energy group said on Tuesday (Feb 20).

Earnings per share stood at 23.12 Singapore cents for the period under review, versus 20.09 cents in the corresponding year-ago period. 

Revenue for the period fell 14 per cent to S$3.4 billion, from S$3.9 billion a year earlier. This was due to lower gas prices, as well as lower power prices from the gas and related services segment, offset by higher turnover from the renewables and other businesses…