Global Leader in International Oil and Gas Industry News

posted in:

Sembcorp delivers strong 1Q2012 performance

Friday, May 11, 2012

Sembcorp Industries (Sembcorp) delivered a strong performance in the first quarter of 2012 (1Q2012). Net profit attributable to shareholders of the Company (net profit) for 1Q2012 grew 11% from S$159.9 million in 1Q2011 to S$176.7 million, while turnover was up 21% from S$2.0 billion in the previous year to S$2.4 billion. Sembcorp’s main profit contributors, the Utilities and Marine businesses, accounted for 54% and 38% of Group net profit respectively. The Utilities business delivered strong profit growth with net profit up 61% to S$99.0 million in the quarter, driven mainly by solid performance from operations in Singapore. Marine’s 1Q2012 net profit contribution to the Group was S$68.7 million compared to S$91.8 million in 1Q2011.

Return on equity (annualised) for the Group was 15.8% and earnings per share amounted to 9.9 cents for the quarter. Economic value added was a positive S$117.1 million while cash and cash equivalents stood at S$2.8 billion.

Tang Kin Fei, Group President & CEO of Sembcorp Industries, said, “Sembcorp delivered a strong performance this quarter, with our Utilities business recording a 61% growth in net profit. Our acquisition of wind power assets in China will, upon completion, also serve to accelerate our growth in the renewable energy sector. At the same time, our Marine business secured S$3.0 billion worth of contracts this year, bringing its total orderbook to S$7.4 billion. Underpinned by resilient businesses, a healthy orderbook as well as a strong pipeline of projects, Sembcorp is well-positioned for sustainable growth.”

Source: Sembcorp

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

AVEVA provides Integrated Engineering & Design solutions to TOTAL E&P Nigeria Limited 18-04-2014
Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips 18-04-2014
Linde will be exclusive hydrogen supplier for the Shell Eco-marathon in Houston 18-04-2014
Technip wins Umbilical contract for Kaombo project in Angola 18-04-2014
Forest Oil announces first quarter 2014 earnings release date and teleconference 18-04-2014
Saipem announces awarded FPSO contracts in Angola worth more than $4 billion 18-04-2014
Endeavour announces settlement of SM Energy litigation 18-04-2014
Drilling and production update 18-04-2014
Shell announces Malaysia deep-water gas discovery 18-04-2014
Meeting between the Ukrainian Minister of Energy, Yuri Prodan, and Eni's CEO Paolo Scaroni 18-04-2014