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Keppel T&T Q3 net profit down 82% at S$12.8m

KEPPEL Telecommunications & Transportation (Keppel T&T) on Tuesday posted an 82 per cent fall in net profit to S$12.8 million for its three months ended Sept 30.

The mainboard-listed logistics and data centre company attributed the fall mainly to the absence of gain from a divestment made in Q3 2016 and the contributions from subsidiaries disposed.

Keppel T&T said that in Q3 2016, one-off gains amounting to S$55.8 million were recognised on the disposal of a subsidiary and adjustment for sale proceeds of data centres disposed, which were partly offset by an impairment loss on fixed assets.

Excluding the one-off gains in Q3 2016, net profit for the quarter would have decreased by 27 per cent instead, said the company.

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Revenue slipped 3.3 per cent to nearly S$45 million from S$46.5 million a year ago.

Earnings per share fell to 2.3 Singapore cents, down from 12.5 cents in the previous year.

No dividends have been declared for the period.