Keppel's H1 dividend up 4 times, profits rebound to S$300m from pandemic slump

Diversified conglomerate reports better showing across almost all key segments; hints at more M&A action; quadruples interim dividend

Anita Gabriel

Published Fri, Jul 30, 2021 · 05:50 AM

keppel

Singapore

AFTER surviving one of its worst periods a year ago,BN4 : BN4 0%has switched gears to "thrive mode". The diversified conglomerate reported on Thursday that it swung back into black for the first six months to June, teased about more M&A action afoot and rewarded shareholders with a surprise quadrupled dividend.

Keppel posted a net profit of some S$300 million in the first half of FY2021 - a stark reversal from a loss of S$537 million in the corresponding period a year ago. This was led by a better showing across all key segments except asset management, which in the previous period was boosted by gains from the reclassification of Keppel Infrastructure Trust (KIT) and sale of Keppel DC Reit units.