Shares & Derivatives
Semb Corp Industries Full Year Results Review – Earning Down 3%
By StockBrokerPlaysPoker  •  February 17, 2015
2014 was a volatile year as the oil bear came out in full force, sending marine stocks to their multi year lows. As we previously saw Kep Corp posting decent results, Semb Corp followed well too with revenues maintained at +1% but earnings falling off by 3%. Do note that FY13 was a stronger year due to their IPO of their Utilities asset in the middle east, if we factor that in FY14 results actually came in pretty decent as I will elaborate later. The main reason why I am attracted to SCI is because if its Utilities business that contributes to over half its earnings, its a stable business with a very predictable stream of recurring income. Excluding the one off gains in FY13, the Utilities business did pretty well by growing net profits from 381mil to 408 mil. Looking forward into the next 2 years, we see a ......
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By StockBrokerPlaysPoker
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