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 an excerpt from a report by UOB Kay Hian Research. Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Use Trust referral code PGKPSWAE to sign up NTUC Link or Trust Link Credit Card or open a Trust Bank Savings Account: ✨Earn up to S$1,000 cashback rewards 🎟!
