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Hot stock: Keppel traded down on Q4 profit slump
SHARES of Keppel Corporation took a hit in morning trade on Friday after the listed conglomerate disclosed overnight a 64.7 per cent slump in its Q4 net profit on S$313 million of provisions for impairments.
The stock hit a low of S$6.18 during morning trade, down 21 cents from previous close, before rebounding to S$6.25 as at 10.43 am after over 3.7 million shares changed hands.
Keppel Corp reported after Thursday's trading close a 64.7 per cent decrease in its Q4 net profit to S$143.06 million. Full-year net profit was S$783.93 million, down 48.6 per cent on S$336 million additional provisions for impairments.