Sembcorp Industries' (SGX:U96) attributable consolidated profit shrank 72% to SG$150 million in the first six months of 2026 from SG$536 million a year ago, according to a Thursday filing to the Singapore stock exchange.

Earnings per share also contracted 72% to SG$0.0836 from SG$0.2973 a year earlier, the renewable energy company said, attributing the decline to weaker wind and solar output in the renewables segment and lower margins in Singapore power operations.

Revenue in the six months ended June 30, however, rose 28% year over year to SG$3.77 billion from SG$2.94 billion a year ago.

The company's board declared an interim dividend of SG$0.11 per share, an increase from SG$0.09 per share a year earleir, to be paid on Sept. 4.

The group expects underlying net profit for the second half of 2026 to be higher than the first half, driven by earnings from its gas and related services segment.

The acquisition of Alinta, completed in June, is also expected to strengthen the group's earnings base and increase the proportion of recurring cash flows over time. Renewables segment earnings are expected to be seasonally lower in the second half of 2026, the company said.

Shares of the company fell 3.5% in early-morning trade on Thursday.