Keppel Corp's Q1 net profit down 42%

FIRST-QUARTER net profit for Keppel Corporation slumped 41.5 per cent to S$210.6 million, on the back of a similar fall in revenue.

Its topline dropped 38 per cent to S$1.7 billion, as revenue from the property division only partially offset reduced sales in the offshore and marine, infrastructure and investment divisions.

Earnings per share for the group was 11.6 cents.

Keppel said that its offshore and marine division has secured S$200 million of new orders to date, and it has a net order book of S$8.6 billion.