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SINGAPORE : Sembcorp Industries has reported a 25 per cent on-year rise in net profit to S$145 million for the third quarter ended September.
This was achieved on the back of a 12 per cent increase in turnover to S$2.5 billion.
Sembcorp said the main contributors to its profit were its utilities and marine businesses, which accounted for 96 per cent of total net profit.
The marine segment's contribution grew by 48 per cent to S$220.5 million. The unit also secured a record year-to-date net order book of S$9.9 billion, with completions and deliveries stretching from the fourth quarter until 2012.
For the first nine months ended September, Sembcorp posted an 8.5 per cent rise in net profit to S$406.2 million. Turnover improved 19 per cent to S$7.2 billion.
This was attributed to higher operating margins from its rig-building and ship repair businesses and better contribution from its associates.
Despite the challenging economic climate, Sembcorp said it is backed by strong operating cash flows and a robust balance sheet, and is well-placed to weather the difficult times ahead. - CNA/ms
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