- Keppel reported better-than-expected results for 2023 due to a strong operating performance from its infrastructure and connectivity segments. The former saw a particularly strong 135% y-o-y increase in net profit with management implying that its mid-to high-teens profit margins are sustainable.
- - Read this at SGinvestors.io -
A strong set of 2023 results with more to come.
- Keppel (SGX:BN4) reported a 19% y-o-y increase in profit from continuing operations to S$996m and above our expectations. Including a S$3.3b disposal gain from the divestment of the offshore & marine business, this would have resulted in a net profit of S$4.1b, the highest in its history. See Keppel's announcement dated 01 Feb 2024.
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- a meaningful 30% increase in net profit for the connectivity segment,
- a solid 54% y-o-y growth in recurring income to S$773m, and
- a 2ppt y-o-y rise in ROE to 9.3% in 2023.
Full year dividend yield of 4.8%
- Read more at SGinvestors.io.
