Keppel Land Q1 profit down 9.2% to $87.7m
Lower contributions from associates and absence of a tax writeback hit results
KEPPEL Land's net profit for the first quarter ended March 31 slipped 9.2 per cent to $87.7 million, dragged down by lower contributions from associates and jointly controlled entities and the absence this time round of a tax writeback.
Its revenue grew 37.6 per cent year-on-year to $284.9 million due largely to contributions from its China residential projects.
But the period registered a 26.3 per cent decline in the share of results of associates to $46.7 million, due mainly to lower co…
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