Keppel reports 38% rise in 1H earnings to $583 mil on property and infrastructure divisions

SINGAPORE (July 19): Keppel Corporation reported a 38% rise in 1H18 earnings to $583 million from $423 million a year ago as stronger contributions from the property and infrastructure divisions which more than offset losses incurred by the offshore & marine (O&M) and investments divisions.

The O&M division incurred a net loss of $40 million for 1H18, compared to a net profit of $11 million a year ago, due mainly to lower operating results, lower share of associated companies’ profits, higher taxes in overseas operations, as well as the absence of gain from divestment of Keppel Verolme in 1H17.