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Keppel's Q2 profit falls 48.1% to S$205.8m

Group says Asia's resilient urbanisation trend offers silver lining; recurring income plays stabiliser role

Published Thu, Jul 21, 2016 · 09:50 PM

THE winter in the oil & marine (O&M) sector may be harsh but it will not last forever, Keppel Corporation said on Thursday as it posted a 48.1 per cent fall in net profit to S$205.8 million for the second quarter.

The three months ended June 30 have been tough, said Keppel, but the group's multi-business strategy continues to support its performance amid the challenging environment.

A silver lining is the resilient trend of urbanisation in Asia, buoyed by a growing middle class and continuing rural-urban migration, Keppel Corp's chief executive Loh Chin Hua said at the re…

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