Keppel Corp turns corner in Q3 from record Q2 losses

Net profit significantly lower y-o-y but all key business units, except Keppel O&M, in the black

Anita Gabriel

Published Thu, Oct 29, 2020 · 09:50 PM

Singapore

KEPPEL Corp turned the corner sequentially in the third quarter after posting record losses of S$697 million in the preceding period that led Temasek Holdings to abandon a partial takeover bid in August and left the stock limping in the aftermath.

Net profit for the three months to September however was significantly lower year-on-year with all key business units, except Keppel Offshore & Marine (Keppel O&M) turning in profits. The latter was the diversified firm's weakest spot as the pandemic continues to hurt energy demand and weigh down oil prices.