Sembcorp's Q2 net profit up 8.6%, boosted by utilities

By ANGELA TAN


Sembcorp Industries (Sembcorp) reported on Thursday that its net profit for the second quarter ended June 30, 2011 rose 8.6 per cent from a year ago at S$175.10 million, boosted by its utilities business.

Turnover was up 1.4 per cent at S$2.17 billion.

For the half year, net profit rose 4.7 per cent to S$335.04 million. Turnover however fell 8.2 per cent to S$4.17 billion.

Return on equity (annualised) for the group was a healthy 17% and earnings per share amounted to 18.8 cents for the period. Economic value added was a positive S$255.9 million, while cash and cash equivalents stood at S$2.2 billion.