Keppel Corporation has reported earnings of $299.8 million for the 1HFY2021 ended June, reversing from its net loss of $537.1 million in the 1HFY2020.
This was due to the group seeing profitability across all key business units during the half-year period. All four segments also recorded better performances, excluding the gains from the reclassification of Keppel Infrastructure Trust (KIT) and the sale of units in Keppel DC REIT in the 1HFY2020, says CEO Loh Chin Hua in an address via webcast on July 29.
In addition, the net profit in the 1HFY2021 also reflects the absence of the $930 million in impairments mainly related to the offshore & marine (O&M) business in the corresponding period in the 1HFY2020.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
