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Singapore's Keppel Corp Q3 net profit slides 9%

Tuesday, October 21, 2014 - 17:37

[Singapore] Singapore's Keppel Corporation said its third-quarter net profit fell 9 per cent on the year to S$414 million (US$325.8 million), weighed down by a lacklustre performance at its property division.

The property division's pretax profit for the quarter fell 37 per cent to S$198 million, while offshore and marine segment recorded a 27 per cent gain, Keppel said in a statement on Tuesday.

Keppel, the world's largest jackup rig builder, said it had taken in new orders worth S$3.7 billion, bringing the total outstanding order book to S$12.7 billion, compared to S$14.2 billion at the end of 2013. REUTERS