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Keppel reverses out of the red in 4Q with earnings of $135 mil on absence of graft-linked penalty and costs

PC Lee
PC Lee1/24/2019 07:23 PM GMT+08  • 2 min read
Keppel reverses out of the red in 4Q with earnings of $135 mil on absence of graft-linked penalty and costs
SINGAPORE (Jan 24): Keppel Corporation reported earnings of $135 million for 4Q18 ended Dec 2018, compared to a net loss of $492 million for 4Q17.
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SINGAPORE (Jan 24): Keppel Corporation reported earnings of $135 million for 4Q18 ended Dec 2018, compared to a net loss of $492 million for 4Q17.

Excluding the one-off financial penalty and related costs of $619 million arising from Keppel O&M’s global resolution with criminal authorities in 4Q17, earnings for 4Q18 of $135 million was 6% above the earnings of $127 million for 4Q17.

FY18 earnings came in at $944 million, nearly five times higher compared to the earnings of $196 million for FY17. Excluding the one-off financial penalty and related costs, FY18 earnings of $944 million would have been just 16% higher year-on-year.

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