Keppel - OCBC Investment 2024-02-01: New Year, New Name

Keppel - New Year, New Name

Published:
Keppel (SGX:BN4) | SGinvestors.ioKeppel (SGX:BN4)
  • 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
    • - Read this at SGinvestors.io -
    • 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.




Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.




OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-02-01



Previous report by OCBC:
2023-07-31 Keppel Corporation - Continues To Unlock Value.

Price targets by other brokers at Keppel Target Prices.

Listing of research reports at Keppel Analyst Reports.

Relevant links:
Keppel Share Price History,
Keppel Announcements,
Keppel Dividends & Corporate Actions,
Keppel News Articles





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