- 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.
