Keppel’s Q1 revenue down 6.3% to S$1.5 billion; legacy O&M assets a drag on net profit
Net profit down; but if these legacy assets were excluded, it would be up, driven by stronger performance in the infrastructure and connectivity segments
KEPPEL reported on Thursday (Apr 25) a 6.3 per cent fall in revenue to S$1.5 billion for the quarter ended Mar 31, compared to S$1.6 billion in the previous corresponding period.
The global asset manager and operator attributed the “comparable” year-on-year revenue to increases in the contributions from infrastructure and connectivity offsetting lower revenue from the real estate segment.
Net profit for the quarter was down on the year, said the group without disclosing its net profit figure.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama