- Keppel gave an in-line 1Q24 business update with the highlight being the continued strong growth in its recurring earnings. Asset management fees rose 52% y-o-y in 1Q24 with strong performance across the infrastructure, connectivity and real estate segments.
- - Read this at SGinvestors.io -
Appears to be an in-line quarter.
- Keppel (SGX:BN4) generated S$1.5b in revenue from continuing operations in 1Q24 (1Q23: S$1.6b); within our expectations. As this was a business update, detailed financials were not provided.
- Keppel also commented that its 1Q24 net profit was higher on a y-o-y basis due mainly to strong contributions from its infrastructure and connectivity segments.
Seatrium stake.
- - Read this at SGinvestors.io -
- Keppel disclosed that its 1Q24 mark-to-market loss for its shareholding in Seatrium was $54m (1Q23: gain of S$14m).
Recurring earnings continue to grow.
- 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/ 2024-04-26
Read also UOB's most recent report:
2024-11-20 Keppel - A Strategic Move To Row Its Own Boats.
Previous report by UOB:
2024-10-30 Keppel - Focusing On Data Centres & Connectivity.
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
