Keppel - UOB Kay Hian 2024-04-26: Steady As She Goes

Keppel - Steady As She Goes

Published:
Keppel (SGX:BN4) | SGinvestors.ioKeppel (SGX:BN4)
  • 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/.



Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-04-26



Read also UOB's most recent report:
2025-02-06 Keppel's 2024 Earnings - Solid Numbers With Much To Look Forward To This Year.

Previous report by UOB:
2024-11-20 Keppel - A Strategic Move To Row Its Own Boats.

Price targets by 4 other brokers at Keppel Target Prices.

Listing of research reports at Keppel Analyst Reports.

Relevant links:
Keppel Share Price History,
Keppel Announcements,
Keppel Dividend Payout Dates & Corporate Actions,
Keppel News






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