SEMBCORP INDUSTRIES LTD posted a 7% rise in its annual profit on Thursday, driven by better performance in the Integrated Urban Solutions segment, but lower income in its biggest division Gas and Related Services hit total earnings.
The company's Integrated and Urban Solutions segment posted a 40% rise in annual net profit on higher land sales in Vietnam and Indonesia as well as better performance in the Energy-from-waste business in Singapore.
However, Sembcorp's gas and related services segment, its biggest earner, posted a 10% decrease in net profit due to planned major maintenance in the first half and lower pool gains in Singapore.
The utility company said its total net profit was S$1.01 billion ($755.42 million) for the year ended December 31, compared with S$942 million a year ago.
The Temasek Holdings-backed company also proposed a final dividend of 17 Singapore cents per share, up from 8 cents declared a year ago.
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