Keppel Land lifts Q2 profit despite falling sales

DESPITE headwinds in the residential markets of Singapore and China, Keppel Land still racked up a decent 12.2 per cent rise in net profit to S$107.2 million for the second quarter ended June 30.

This was mainly bolstered by its fund-management business Alpha Investments, profit from some Chinese projects upon completion, as well as stronger contributions from Keppel Reit and its one-third stake in Marina Bay Financial Centre Tower 3.

But the group posted a 7.8 per cent year-on-year drop in revenue to S$304.6 million, as…