As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday, 9 November 2012

SEMBCORP RECORDS NET PROFIT OF S$548.6 MILLION IN 9M2012

 
Utilities business delivers strong profit growth of 36%

Singapore, November 9, 2012 – Sembcorp Industries (Sembcorp) reported a net profit of S$548.6 million in the first nine months of 2012 (9M2012). Group net profit in 9M2011 was S$557.4 million. In 9M2012, turnover increased 8% to S$7.4 billion from S$6.8 billion in 9M2011. Sembcorp’s main profit contributors continued to be its Utilities and Marine businesses, which contributed 52% and 40% of Group net profit respectively.

In 9M2012, the Utilities business delivered strong profit growth with net profit increasing 36%. The business’ 9M2012 net profit grew to S$293.5 million from S$216.2 million, underpinned by robust growth from its Singapore operations. The Marine business contributed S$225.4 million in net profit in 9M2012 compared to S$317.9 million in 9M2011 mainly due to lower margin from new design rigs and resumption of margin recognition on completion and delivery of the
Songa Eclipse semi-submersible rig in 9M2011. The Urban Development business recorded an 8% increase in net profit to S$19.3 million from S$17.9 million over the same period.

For 9M2012, return on equity (annualised) for the Group was 17.0% and earnings per share amounted to 30.7 cents. Economic value added was a positive S$404.1 million while cash and cash equivalents stood at S$1.9 billion.

In the third quarter of 2012 (3Q2012), Group net profit was S$181.2 million compared to S$222.4 million in 3Q2011, while turnover was S$2.3 billion compared to S$2.6 billion.

Tang Kin Fei, Group President & CEO of Sembcorp Industries said, "Backed by strong growth from our Singapore operations and contribution from the newly-completed Salalah Independent Water and Power Plant in Oman, our Utilities business delivered a strong profit growth of 36%. In addition, we achieved a significant milestone in our strategy to grow our renewable energy capabilities with the completion of our acquisition of wind power assets in China. Meanwhile, our Marine business continued to secure significant new orders that have brought its total orderbook to a record S$12.1 billion. Underpinned by sound business fundamentals and a healthy pipeline

of projects and orderbook, Sembcorp is well-positioned to continue to deliver shareholder value and long-term growth."


FY2012 Outlook

Utilities

Our Utilities business is expected to deliver a better performance in FY2012 compared to last year.

With the execution of our pipeline of projects as well as the active pursuit of new growth opportunities, the business continues to be well-positioned to deliver long-term growth.

Marine

Our Marine business secured contract orders worth a total of S$9.1 billion since the start of the year, growing its net orderbook to a record high of S$12.1 billion, with completion and deliveries extending till 2019.

Overall, enquiries continue to be healthy although competition remains keen and affects margin.

Urban Development

While the slowdown in the global economy may affect the pace of land sales, our Urban Development business is expected to deliver a steady performance in 2012.

Group

The Group, underpinned by resilient businesses and a healthy pipeline of projects, will continue to make every effort to position our businesses for sustained growth.


Highlights from Sembcorp’s 9M2012 Financial Results

Turnover at S$7.4 billion, up 8%
 Profit from Operations at S$932.3 million, up 1%

 Net Profit at S$548.6 million, down 2%

 EPS at 30.7 cents

 ROE (annualised) at 17.0%

 Continued strong performance from Utilities, net profit up 36%

*Profit from Operations = Earnings before Interest and Tax + Share of Associates and JVs’ results (net of tax).


View? Presentation slides


 

No comments:

Post a comment

Related Posts with Thumbnails