Singapore's Keppel Corp 1Q Net Profit Falls 5%

Reuters

SINGAPORE, April 16 (Reuters) – Singapore's Keppel Corporation Ltd said on Wednesday its net profit in the first quarter dropped 5 percent on the year to S$339 million ($270.46 million).

Keppel is the world's top offshore jackup drilling rig producer and has business in property development and infrastructure. The firm booked revenue of nearly S$3 billion for the quarter, up 8.6 percent from a year earlier, it said in a statement.

The offshore and marine division secured S$1.9 billion worth of new orders in the quarter, pushing the company's net order book to a record high of S$14.4 billion.

Singapore's state investor Temasek Holdings owns a stake of more than 20 percent in Keppel. ($1=1.2534 Singapore Dollars)

(Reporting by Rujun Shen; Editing by Clarence Fernandez)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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