Sembcorp Industries profit down to S$222.4m

It dropped from S$244.1m in the third quarter of 2010, as Sembcorp Industries' Marine business posted profit decline.

In an announcement Sembcorp Industries said Marine’s 3Q2011 net profit went down while Utilities grew its contribution to the Group’s net profit to 35% from 27% in 3Q2010.

Mr Tang Kin Fei, Group President & CEO of Sembcorp Industries, said the Utilities business has increased its contribution to the Group’s net profit from less than S$50 million ten years ago to over S$200 million today.

Sembcorp Industries said it intends to further grow and expand its Utilities business. As for the Marine business, the company said enquiries remain healthy but competition is keen.

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