Sembcorp Industries reports second quarter profit of $165.4 million, down 13.3%
CONGLOMERATE Sembcorp Industries on Tuesday reported that second quarter net profit fell 13.3 per cent to $165.4 million.
The company cited weaker profits at its offshore arm and the recognition of a fair value loss on its stake in a unit.
Turnover slipped 6.3 per cent to $2.5 billion.
A big part of the lower profit was the result of some accounting adjustments that had nothing to do with Sembcorp's operations.