Singapore's Sembcorp Marine has reported a strong 2008 financial year PATMI (profit after tax and minority interests) of S$430 million (US$277.98 million).
This figure was reported after a one-off charge US$28.44 million arising from commercial settlement of foreign exchange (FX) transactions in the fourth quarter of 2008.
Excluding the one-off charge, PATMI for FY 2008 was US$306 million, 31 percent higher than 2007. PATMI for 2007, excluding FX transactions and nonoperating items stood at US$234 million.
Sembcorp's operating profit at US$324.39 million was 44 percent higher than 2007's US$225.6 million.
Sembcorp's pre-tax profit increased 49 percent from US$235.7 million in 2007 to US$352.2 million in 2008. Revenue in 2008 was US$3.65 billion, a twelve percent increase as compared with US$2.9 billion in 2007.
