- Keppel (SGX:BN4) reported a 13% y-o-y fall in revenue to S$3.2b and a 32% drop in net profit from continuing operations to S$304.1m in 1H24.
S$513m net profit from continuing operations in 1H24, up 7% excluding legacy offshore & marine assets
- - Read this at SGinvestors.io -
- In 1H24, all segments were profitable with stronger earnings in the Infrastructure and Connectivity segments offsetting a decline in Real Estate contributions.
Continues transformation into a global asset manager and operator
- Keppel continues to transform into a global asset manager and operator. In 1H24, asset management profit more than doubled y-o-y to S$75m, while funds under management grew 55% from end 2023 to S$85b as at end June 2024. This was bolstered by the acquisition of Aermont earlier.
- - Read this at SGinvestors.io -
Interim cash dividend of 15.0 cents, same as 1H23
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-08-02
Previous report by OCBC:
2024-02-01 Keppel - New Year, New Name.
Price targets by 2 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
