Keppel T&T Q1 profit down 15.6% on higher taxation, lower non-controlling interests

HIGHER taxation and lower non-controlling interests, resulted in a 15.6 per cent fall in first quarter net profit for Keppel Telecommunications & Transportation Ltd (Keppel T&T). Net profit for the fiscal 2016 first quarter came in at S$13.31 million, down from S$15.78 million recorded one year ago for the period that ended on March 31.

This fall in net profit came despite a flat earning during the quarter. Revenue was up 0.7 per cent hike to S$48.27 million from S$47.93 million one year ago.

Earnings per share (EPS) for the period was down 14.3 per cent to 2.4 Singapore cents, from 2.8 Singapore cents one year ago. The net asset value (NAV) per ordinary share was S$1.30.

The growth in revenue during the first quarter was mainly due to higher revenue from the Data Centre Division which was, however, partly offset by lower revenue from Logistics Division.