SUBSCRIBERS

Analysts upbeat on Keppel's strong margins

Order book still healthy despite lower rig-building revenue in Q3

Published Mon, Oct 21, 2013 · 10:00 PM
Share this article.

ANALYSTS are bullish about Keppel Corporation and its offshore & marine segment, even though its rig building business turned in lower revenue and net profit for the latest quarter.

Last week, the shipbuilder reported a 32.1 per cent increase in Q3 net profit to $457.6 million, but excluding revaluation, major impairment and divestments, its net profit was $403 million, 20 per cent higher than the same period last year.

The offshore rig building business accounted for $215 million, down 11 per cent from $241 million a year earlier as a result of a lower volume of work. This meant that while the offshore & marine segment contributed almost three-quarters of the group's net profit during the same period last year, at 72 per cent, it only m…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here