Sembcorp Industries' profits dropped 29% to $247m in 2019

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. read more