Keppel's Q1 profit falls 42%

Singapore

NET profit for Keppel Corporation slumped 42 per cent to S$210.6 million for the first quarter, on the back of a 38 per cent fall in revenue.

Its topline dropped to S$1.74 billion from S$2.81 billion, as higher revenue from the property division only partially offset reduced sales in the offshore and marine, infrastructure and investment divisions.

Revenue from the offshore and marine division plunged 58 per cent, o…