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
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.
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