Associated firms boost Keppel Q1 bottom line
Net earnings up 23.7% at S$260.4m despite 32.6% fall in operating profit
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Singapore
DESPITE a 28.4 per cent fall in group revenue to S$1.25 billion, Keppel Corporation emerged from the first quarter with a 23.7 per cent rise in net profit to S$260.4 million.
This comes as the conglomerate's share of results of associated companies for the three months ended March 31, 2017, shot up to S$170.3 million, from S$13.7 million a year ago. Keppel attributed the surge to higher contribution from associated firms in the investment and property divisions.
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