SINGAPORE (Nov 2): Sembcorp Industries announced 11.6% lower 3Q18 earnings of $82.3 million compared to $93.1 million a year ago, due to higher expenses incurred mainly from provision for fines.

Turnover for the quarter was $3 billion, up 36.3% from $2.2 billion in 3Q17 on contribution growth from the utilities and other businesses.

Utilities continued to be a key contributor to the group’s topline, registering a net increase in turnover due to higher revenue in Singapore, which benefitted from higher High Sulphur Fuel Oil (HSFO) prices; higher volume and prices for India; higher generation from Teesside and contribution from UK Power Reserve (UKPR); and contribution from Changzhi water treatment plant in China.

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