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First quarter earnings rise 4.5% at SembCorp Industries

Published on May 6, 2014 8:14 PM
 
An oil rig at SembCorp Marine PPL shipyard, off the coast near Pandan Industrial Estate. SembCorp Industries lifted earnings in the first quarter by 4.5 per cent, thanks to better performances from its three main business units. -- ST FILE PHOTO: ALPHONSUS CHERN

SINGAPORE - SembCorp Industries lifted earnings in the first quarter by 4.5 per cent, thanks to better performances from its three main business units.

Net profit for the three months to March 31 came in at $184.8 million, up from $176.9 million a year ago while revenue rose 11.8 per cent to $2.6 billion, it reported on Tuesday.

The utilities business reported quarterly net profit of $91.6 million, increasing 3 per cent from $89.4 million in a year earlier, while the marine division's net profit grew 3 per cent to $74.3 million, from $72 million.

The urban development business recorded a profit growth of 192 per cent to $19.5 million, due to a strong contribution from its Nanjing Eco Hi-tech Island project in China.

 
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