Keppel T&T's Q4 profit attributable to shareholders plunges 77.6%

DATA-CENTRE and logistics provider Keppel Telecommunications & Transportation (Keppel T&T) on Tuesday reported a 77.6 per cent drop in profit attributable to shareholders to S$44.51 million for the fourth quarter ended Dec 31, 2015, from S$198.39 million in Q4 2014.

This came on the back of a 25.8 per cent drop in revenue, from S$70.92 million in the year-ago quarter to S$52.59 million in Q4 2015.

Earnings per share (EPS) were eight Singapore cents compared to 35.8 Singapore cents in Q4 2014, a decrease of 77.7 per cent.

For the full year, profit attributable to shareholders was S$91.48 million, down 62.9 per cent from S$246.58 million in 2014. This came on the back of a 10.7 per cent drop in revenue to S$200.57 million from S$224.56 million in 2014. EPS was 16.5 Singapore cents, down 62.8 per cent from 44.4 Singapore cents previously.

During the fourth quarter last year, the company's other income dropped 88.3 per cent, from S$235.93 million in Q4 2014 to S$27.67 million.

The divestment of assets in 2014 comprising mainly sale of data-centre assets to Keppel DC Reit contributed S$238.5 million to the group's 2014 operating profit, S$238.5 million to profit before taxation and S$186.4 million to net profit attributable to shareholders. Excluding the divestment gains in 2014, net profit attributable to shareholders was higher by S$31.3 million at S$91.5 million for the full year.

The company declared a final dividend of 3.5 Singapore cents for the financial year ended Dec 31, 2015. In 2014, the company paid a final dividend of 3.5 Singapore cents and a special dividend of 11.5 Singapore cents, taking the full-year dividend to 15 Singapore cents.