Keppel Corp Q3 profit up 32% to $457.6m

KEPPEL Corporation yesterday posted a third-quarter net profit of $457.6 million, up 32.1 per cent from $346.4 million a year ago, as higher contributions from its property business helped it offset the drop in earnings from its core business of rig-building.

The profit attributable to shareholders for the July-September period translated into earnings per share of 25.3 cents, up 31.1 per cent year-on-year.

Keppel said that excluding revaluation, major impairment and divestments, third-quarter net profit rose 20 per cent to $403 million from $337 million a year ago.