Keppel Corp's Infrastructure Division posts 35% decrease in profit

Keppel Corp improved its net profit by 11%, but review of Group performance revealed pre-tax profit from Infrastructure Division fell to $51 million due to lower contribution from EPC contracts.

Prospects are bright, however, for the said Division with Mr Choo Chiau Beng, Chief Executive Officer, saying, “We successfully listed K-Green Trust, a green infrastructure trust that will deliver long term, regular and predictable distribution to unitholders. With an initial portfolio of quality assets in Singapore, K-Green Trust will leverage Keppel’s international network and well-established expertise to seek acquisition opportunities in Asia, Europe and Middle East.”

Keppel Corp’s Unaudited Financial Statements showed net profit attributable to shareholders was $669 million, after taking into account income tax expenses and non-controlling interests. Shareholders will be paid an interim distribution of 16 cents per share as interim dividend increased 7%.

Offshore & Marine Division remains the largest contributor to net profit with 67%, followed by Property Division with 26% and Infrastructure Division with 6%.