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Keppel T&T's Q4 profit attributable to shareholders plunges 77.6%

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Data centre and logistics provider Keppel Telecommunications & Transportation (Keppel T&T) on Tuesday reported a 77.6 per cent drop in profit attributable to shareholders to S$44.51 million for the fourth quarter ended Dec 31, 2015, from S$198.39 million in Q4 2014.

DATA-CENTRE and logistics provider Keppel Telecommunications & Transportation (Keppel T&T) on Tuesday reported a 77.6 per cent drop in profit attributable to shareholders to S$44.51 million for the fourth quarter ended Dec 31, 2015, from S$198.39 million in Q4 2014.

This came on the back of a 25.8 per cent drop in revenue, from S$70.92 million in the year-ago quarter to S$52.59 million in Q4 2015.

Earnings per share (EPS) were eight Singapore cents compared to 35.8 Singapore cents in Q4 2014, a decrease of 77.7 per cent.

For the full year, profit attributable to shareholders was S$91.48 million, down 62.9 per cent from S$246.58 million in 2014. This came on the back of a 10.7 per cent drop in revenue to S$200.57 million from S$224.56 million in 2014. EPS was 16.5 Singapore cents, down 62.8 per cent from 44.4 Singapore cents previously.

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During the fourth quarter last year, the company's other income dropped 88.3 per cent, from S$235.93 million in Q4 2014 to S$27.67 million.

The divestment of assets in 2014 comprising mainly sale of data-centre assets to Keppel DC Reit contributed S$238.5 million to the group's 2014 operating profit, S$238.5 million to profit before taxation and S$186.4 million to net profit attributable to shareholders. Excluding the divestment gains in 2014, net profit attributable to shareholders was higher by S$31.3 million at S$91.5 million for the full year.

The company declared a final dividend of 3.5 Singapore cents for the financial year ended Dec 31, 2015. In 2014, the company paid a final dividend of 3.5 Singapore cents and a special dividend of 11.5 Singapore cents, taking the full-year dividend to 15 Singapore cents.

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