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Even conservative analysts lift Sembcorp's TP after strong 2H21 results escape losses

Jovi Ho
Jovi Ho2/25/2022 11:00 AM GMT+08  • 7 min read
Even conservative analysts lift Sembcorp's TP after strong 2H21 results escape losses
“All segments turned in stronger h-o-h earnings growth in 2HFY2021.”
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After Sembcorp Industries’ 2HFY2021 core profit beat expectations, CGS-CIMB Research analysts Lim Siew Khee and Izabella Tan are “giving credit where credit is due”.

Sembcorp Industries has reported earnings of $233 million for 2HFY2021 ended December 2021, from a loss of $866 million in the year earlier period. Revenue in the same period was up 59% to $4.5 billion.

2HFY2021 core profit of $220 million was down 13% h-o-h but up 46% y-o-y, beating the CGS-CIMB analysts’ forecasts by 7%.

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