- 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.
- - Read this at SGinvestors.io -
- 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.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-02-02
Read also UOB's most recent report:
2024-04-26 Keppel - Steady As She Goes.
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
