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....