KEPPEL Corporation on Thursday posted 39 per cent lower net profit at S$153 million for the second quarter ended June, largely due to absence of gains from en bloc sales of development projects.
The decline in net profit came despite a 17 per cent year-on-year rise in revenue to S$1.78 billion from S$1.52 billion. Except for the Offshore & Marine division, all divisions registered higher revenues during the quarter. The conglomerate posted a net profit of S$356 million for the first half of FY2019, 39 per cent below the S$586 million achieved a year ago, mainly due to lower contributions from en bloc sales of property projects which amounted to S$416 million in 1H 2018.
Source: News Formal (newsformal.com)
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