Keppel T&T's Q2 profit down 12.8%, revenue up 27%

KEPPEL Telecommunications & Transportation (Keppel T&T) posted a 12.8 per cent decline in net profit to S$14.3 million on higher interest expenses and lower share of results of its associated companies for the second quarter ended June 30, 2014, yesterday.

Revenue for the same period was 27 per cent higher at S$51.3 million, driven by higher revenue from the group's data centre and logistics divisions.

Even so, operating expenses grew even more, rising 33.6 per cent to $45.3 million, driven partially by expenses incurred by new subsidiaries, while interest expense increased 64.7 per cent to $3 million. At the same time, its share of results from associated companies and jointly controlled entities slipped 5.3 per cent to $14.1 million.