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Keppel T&T posts 10.6% fall in Q4 profit

KEPPEL Telecommunications & Transportation (Keppel T&T) reported a 10.6 per cent fall in net profit for the fiscal fourth quarter from a year ago, the company said on Wednesday.

This was due mainly to impairment loss on an associated company, fair value loss on a data centre and higher operating expenses, though partly offset by higher share of profits and fair value gains on investment properties from associated companies.

Net profit for the three months ended Dec 31, 2018 stood at S$18.2 million, compared with a net profit of S$20.4 million posted the same period a year ago. 

The results translate to earnings per share of 3.3 Singapore cents, down against earnings per share of 3.6 Singapore cents a year ago.

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Revenue was up 8 per cent to S$47.2 million, reflecting higher data centre facility management income and revenue from logistics warehousing and channel management business, though this was partially offset by lower revenue from port operations in China.

For the full year, net profit was up 17 per cent to S$65.5 million.

Shares of Keppel T&T closed unchanged at S$1.87.