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Thursday, 21 February 2013

SembCorp Marine 27% profit plunge

SembCorp Marine released its final quarter results today and it is really in line with market expectation - disappointing!  Double digit revenue growth rate for 4Q2012 but ended up with a double digit de-growth rate on profit.

Dividends declared also lowered whereby its special dividends down to 2 cents (FY 2012) from 14 cents (FY 2011).  With this and based on my investment costs in it, the annual dividend yield is only at 2.6% which is at the lower band of my forecast in 28 Sep'12 week posting.

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