1. A mixed set of earnings
SCI turned in a mixed set of results for 1H 2023. Revenue dipped by 6% year on year to S$3.7 billion but net profit surged by 56% year on year to S$608 million....Blue-chip stocks are setting the tone for this earnings season with many of them reporting higher year-on-year profits.
Two weeks ago, United Overseas Bank (SGX: U11) delivered a strong set of earnings and hiked its dividend by 42%.
Last week, DBS Group (SGX: D05) saw its return on equity hit a record high while OCBC Ltd (SGX: O39) also reported robust earnings growth.
Sembcorp Industries Limited (SGX: U96), or SCI, joins this group of stocks in reporting a sharp jump in net profit.
The utility giant had released its 2023’s first-half (1H 2023) earnings and is focused on the execution of its transformation strategy.
Here are five highlights from SCI’s latest financial report.
