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Keppel Corp posts 41.5% rise in Q4 earnings to S$191.4m

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Keppel Corp posts 41.5% rise in Q4 earnings to S$191.4m.

MAINBOARD-LISTED conglomerate Keppel Corporation reported 41.5 per cent higher net earnings at S$191.4 million for the fourth quarter ended December, on the back of stronger performance from the offshore and marine , property and investments divisions.

Announcing its results via a statement to the Singapore Exchange on Thursday, Keppel Corp also reported 40 per cent higher earnings per share at 10.5 Singapore cents from 7.5 cents for the year-ago period. Revenue was S$2.2 billion, up 31.1 per cent year-on-year for Q4, with all except the property division registering higher turnover during the quarter.

For fiscal 2019, it made a net profit of S$707 million, a 25.5 per cent decline from a year ago, when it had benefited from S$584 million gains through en bloc sales of development projects and property divestments.But its revenue was 27.1 per cent higher at S$7.58 billion, due to higher recognition of ongoing O&M and infrastructure projects, improved sales in the power and gas segment, the consolidation of M1 and higher asset management revenue.

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