By Yifan Wang
Sembcorp Industries Ltd. (U96.SG) reported its second-quarter earnings results after the market closed Wednesday. Here's how it did:
NET PROFIT: Net profit for the quarter came in at S$98 million (US$70.9 million), 20% higher than the same period a year earlier, the company said. The figure was below analysts' expectations of S$110.8 million, according to a FactSet poll.
TURNOVER: Turnover fell 29% on year to S$2.37 billion (US$1.71 billion), weighed down by the marine segment.
WHAT WE WATCHED:
--MARINE BUSINESS: The group said it expects full-year losses for the marine division because of low business volume. The group also provided a S$2 billion loan facility to its marine unit in June to strengthen its financial standing, it said.
--INDIA PLANS: First-half net profit for Sembcorp Industries' energy business in India rose 46%. The Indian business had an equity injection of S$101.6 million during the period, the group said.
Write to Yifan Wang at email@example.com
Corrections & Amplifications
Story corrected at 1019 GMT. The original incorrectly said net profit for its energy business in India rose 46% in the first half of the year, after an equity injection of S$101.6 million in the final paragraph.