Keppel T&T net profit nudges up 4% to $15m

Logistics and Data divisions performed well.

For the quarter ended March 31, 2013, Keppel Telecommunications & Transportation reported Group revenue of $37.0 million was $3.4 million or 10% above the corresponding quarter in 2012 due to higher revenue generated from Logistics and Data Centre Divisions. Consequently, operating profit increased $0.7 million or 10% to $7.1 million.

Profit before taxation of $19.9 million was higher by $1.0 million compared to the corresponding quarter in 2012. The increase in operating profit and share of contributions from associated companies was partly offset by higher interest expense.

After taking into account taxation expense and non-controlling interests, the Group’s net profit attributable to shareholders was higher at $15.0 million. In the opinion of the Directors, no factors have arisen between the end of the current period and the date of this report which would materially affect the results of the Group and the Company for the period just ended.

Keppel T&T said in its forecast that it will continue to focus on maintaining high occupancy rates and executing its major projects. During the quarter, the Wuhu Port in Anhui commenced trial operations after completing the first phase of construction. The Group has also secured a two hectare site in Tampines, Singapore to develop an air logistics hub. It continues to explore other new development opportunities.

Demand for the Group’s data centre services remains strong. The data centre fund recently completed its second round of capital raising, making Keppel T&T the single largest shareholder. The Fund has acquired the remaining 50% stake in Citadel 100, a data centre in Ireland.