(February 21 12:47) Sbr.com.sg
Submitted By:
Shaina Teope
Case Study:
No
The contraction in profits was due to losses incurred by the marine and energy business.
Sembcorp Industries’ net profit posted a 29% decline to $247m in FY2019, from $347m in FY2018. The company’s turnover similarly decreased for the year, reporting an 18% decline to $9.62b, from $11.69b in FY2018.
On a quarterly basis, net profit decreased from $106m to $15m YoY in Q4. Turnover for the quarter also decreased 10% to $2.32b, compared to $2.57b in the same quarter in 2018.
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