Sembcorp's net profit up 2% despite segment declines

Net profit after exceptional items (EI) was $540m.

Sembcorp Industries reported a 2% YoY higher group net profit after exceptional items (EI) and discontinued operation of $540m in H1 2024.

Before EI, the group’s net profit was 12% YoY lower at $532m.

The decline was likely due to the Gas and Related Services segment’s 22% YoY lower net profit before EI of $339m.

Apart from the Gas and Related Services segment, Renewables also posted a 13% YoY lower net profit before EI of $104m.

Its Decaronration Solutions, meanwhile, widened its losses by 233% YoY to $10m.

Still, with higher NPI after EI, the group’s board declared an interim dividend of $0.06 per ordinary share to be paid on 22 August.