Keppel Corp’s net profit up 6% to $360m in Q1

Thanks to a larger chunk of KepLand earnings.

Keppel Corporation reported that its net profit grew 6% year-on-year to $360m in the first quarter, on back of a bigger share of Keppel Land's earnings and the sale of some equity investments.

KepCorp highlighted that while earnings per share grew 6% to 19.8 cents in Q1, return on equity was lower at 12.9% compared to 13.4% a year ago.

Its offshore and marine segment continued to be impacted by lower oil prices, with only $500m worth of contracts booked so far this year.

Meanwhile, its property arm Keppel Land sold 720 homes in Asia in Q1, comparable to that of 2014. 

Its infrastructure segment continued to ride on the strong demand for data centres via the newly-listed Keppel DC REIT.