Higher costs eat into Keppel T&T's bottom line

Singapore

OPERATING losses widened in the first quarter at Keppel Telecommunications & Transportation (Keppel T&T), with spending climbing faster than turnover could grow.

Its share of results from associates and joint ventures helped to save the day, unaudited results out on Tuesday showed. Keppel T&T posted a net profit of S$9.43 million for the three months to March 31, a drop of 16.3 per cent on the previous year.