Keppel Corp reports higher Q1 profit as 3 out of 4 key segments fare better
Group revenue up 9% to S$2.07b, led by higher contributions from energy & environment segment
Add BT as a preferred source
Anita Gabriel
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
