Keppel T&T Q2 profit up 138% to S$26m

A DILUTION gain following Keppel DC REIT's private placement exercise lifted results for Keppel Telecommunications & Transportation (Keppel T&T) in its second quarter.

Net profit rocketed 137.8 per cent to S$26 million from the preceding year, the group said in a Singapore Exchange filing on Wednesday evening.

For the three months ended June 30, revenue shrank 4.9 per cent to S$45.3 million from the previous year. The decrease in revenue was due partly to lower project management fee income from the data centre division and lower container throughput at Keppel T&T's ports in China and partly offset by higher revenue from warehousing and channel management business in South-east Asia.

Earnings per share went up to 4.6 Singapore cents from two Singapore cents in the year-ago period.

For the six months ended June 30, net profit surged 59.5 per cent to S$35.4 million from the previous year.

Revenue slipped 0.3 per cent to S$88.1 million from the previous year.

Earnings per share jumped to 6.3 Singapore cents from four Singapore cents in the year-ago period.

Keppel T&T's net asset value per ordinary share increased to S$1.54 per share as at June 30, compared to S$1.52 per share as at end-2017.

No dividend was proposed.

Keppel T&T shares finished unchanged at S$1.44 on Wednesday.