- In its FY23 results, Keppel reported a net profit of S$4.1b, the highest profit on record in the group’s 55-year history. This was bolstered by a S$3.3b disposal gain from the divestment of the offshore & marine business.
New year, new name –
- - Read this at SGinvestors.io -
- Under Keppel’s Vision 2030 plan introduced earlier, the firm has reorganised itself into three horizontally integrated platforms comprising
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- Investment, and
- Operating Platforms.
Highest profit in history boosted by S$3.3b disposal gain –
- Keppel reported FY23 net profit of S$4.1b, the highest profit on record in the group’s 55-year history. This was bolstered by a S$3.3b disposal gain from the divestment of the offshore & marine business.
- Net profit from continuing operations was S$996m in FY23, about 19% higher. All three segments – Infrastructure, Real Estate and Connectivity – were profitable, with Infrastructure’s net profit rising sharply by 135% y-o-y to S$699m bolstered by the integrated power business.
- Despite challenging conditions in China, the Real Estate segment still managed to deliver S$426m in net profit (excluding loss from distribution in-specie of Keppel REIT units).
S$0.34/share cash dividend in addition to earlier distributions in specie
- Read more at SGinvestors.io.
