Shares & Derivatives
Sembcorp Industries Tripled its 2022 Profit and Declares a Special Dividend: 5 Things to Note About the Utilities Giant
By The Smart Investor  •  March 1, 2023
Sembcorp Industries Limited (SGX: U96), or SCI, is the latest blue-chip stock to announce an impressive set of results. The utility giant saw its net profit more than triple year on year and has declared a special dividend, similar to the likes of DBS Group (SGX: D05) and City Developments Limited (SGX: C09). SCI’s performance can be attributed to management’s consistent focus on bulking up its renewables portfolio while securing deals to boost the group’s recurring income. These efforts have translated into a 45% surge in SCI’s share price over the past year. Here are five highlights from the group’s 2022 earnings that investors may want to take note of. 1. A sterling set of financial numbers Total revenue for SCI rose 21% year on year to S$9.4 billion as higher power prices and contributions from renewable energy assets kicked in. Net profit for the group shot up more than threefold year on year from S$279 million to S$848 million....
Read the full article
By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance