Singapore's Sembcorp expects higher earnings in fiscal 2023

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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Reuters /  🏆 2. in NG

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