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Singapore's Keppel annual profit more than quadruples

February 1, 2024 - SINGAPORE's Keppel posted a more than four-fold rise in its full-year profit on Thursday, primarily bolstered by a one-off gain from the divestment of its offshore and marine (O&M) unit.


Keppel, which was founded 56 years ago and traces its roots to a shipbuilding yard, recorded a S$3.3 billion ($2.46 billion) gain after the disposal of its O&M business last February.


That, along with strong performances at its infrastructure segments helped Keppel post a record full-year net profit of S$4.07 billion, compared with a profit of S$927 million a year earlier.


The company, which aims to transform itself into an asset manager overseeing $150 billion by 2030 and focus on green energy, declared a final dividend of 19 Singapore cents per share, higher than 18 Singapore cents apiece last year. – Reuters

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