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Singapore's Sembcorp expects higher earnings in fiscal 2023

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Singapore's Sembcorp Industries said on Friday it expected fiscal 2023's underlying earnings to be higher than last year but warned of impact from slow global growth and inflation, after posting a 56% jump in its first-half profit.

said on Friday it expected fiscal 2023's underlying earnings to be higher than last year but warned of impact from slow global growth and inflation, after posting a 56% jump in its first-half profit.

Net profit before exceptional items for the conventional energy segment — the company's biggest revenue generator — surged 47% to S$435 million in the six months ended June 30.The Singapore state investor Temasek Holdings-owned company said its attributable profit from continuing operations for the period was S$608 million, compared with S$389 million a year ago.

However, the company warned of impact on business performance on projected slow global growth amid high inflation, tight monetary policy and geopolitical tensions.

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