KepLand's Q4 profit boosted by one-off gain

PROPERTY group Keppel Land booked a net profit of $567.3 million for the fourth quarter, primarily on a one-off gain from the divestment of its stake in an Indonesian project.

The profit attributable to shareholders for the three months ended Dec 31 last year was up 7.6 per cent year-on-year, and translates to an earnings per share of 36.7 cents.

Keppel Land's turnover in Q4 was $505.7 million, 7.2 per cent higher than a year earlier. This was due mainly to a stronger performance from its core property trading business segment.