Earnings call: Keppel Limited's H1 2024 financial results show growth

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Earnings call: Keppel Limited's H1 2024 financial results show growth

) Limited , a diversified conglomerate, has reported a strong performance in the first half of 2024, with significant growth in earnings from its asset management business and a solid net profit from continuing operations. The company's asset management fees surged by 75% year-on-year, and it achieved an annualized run rate of over $50 million in recurring cost savings. Keppel also declared an interim dividend of $0.

Keppel Limited remains focused on expanding its asset management business and pursuing strategic divestments to achieve its monetization targets. The company is also keen on enhancing its infrastructure, real estate, and connectivity divisions, aiming to bolster its recurring income streams and secure long-term growth.

An InvestingPro Tip highlights that analysts predict Keppel will be profitable this year, which aligns with the company's reported net profit from continuing operations of $513 million. This profitability is not only a current phenomenon but has been consistent over the last twelve months, indicating sustained operational success.

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