Keppel Corp reports higher Q1 profit as 3 out of 4 key segments fare better

MAINBOARD-LISTED Keppel Corporation logged higher net profit for the first quarter ended March from a year ago with three key segments putting up a better showing except for urban development.

Group revenue grew 9 per cent to S$2.07 billion year on year led by higher contributions from the energy & environment segment. The other two key segments, asset management and connectivity also registered improved performance, said Keppel in a Q1 business update on Thursday.

The diversified firm's property development arm Keppel Land saw net profit dip in the three-month period owing to lower contributions from China property trading projects and enbloc sales. The urban business was the largest contributor to Keppel's bottomline in FY2021.