KEPPEL Corp's third-quarter net profit fell 30 per cent to S$159 million from a restated S$227 million a year ago, led by the absence of gains from divestment of a commercial development in Beijing and higher net interest expense.
Revenue jumped 60 per cent to S$2.07 billion from S$1.30 billion with higher recognition from offshore & marine due property and infrastructure projects, as well as increased sales in the power and gas business and from the consolidation of M1's results. Revenue from the infrastructure business grew by S$68 million to S$742 million as a result of increased sales in the power and gas business and progressive revenue recognition from the Hong Kong Integrated Waste Management Facility project while revenue from investments rose by S$283 million to S$308 million due mainly to the consolidation of M1.
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