SINGAPORE : Conglomerate Keppel Corp has reported a better-than-expected 48 percent jump in first quarter net profit to S$252 million.
Earnings were boosted by more rig sales and higher earnings from its property and refinery operations.
Revenue rose by nearly a third to S$2.03 billion.
Keppel said the good start in the first quarter has put the group in a strong position to achieve its earnings target of a double-digit average growth rate for the current year.
Its rig-building business is expected to continue to be a significant earnings contributor.
It also expects its property and infrastructure business to do well, resulting in higher contributions to its bottomline.
Keppel also reported an order book of S$10 billion, thanks to new orders worth about S$1.5 billion this year.
In Thursday's trade, Keppel shares hit an all-time high of S$21.70.
The stock has gained some 23 percent since the start of the year.
Earnings were boosted by more rig sales and higher earnings from its property and refinery operations.
Revenue rose by nearly a third to S$2.03 billion.
Keppel said the good start in the first quarter has put the group in a strong position to achieve its earnings target of a double-digit average growth rate for the current year.
Its rig-building business is expected to continue to be a significant earnings contributor.
It also expects its property and infrastructure business to do well, resulting in higher contributions to its bottomline.
Keppel also reported an order book of S$10 billion, thanks to new orders worth about S$1.5 billion this year.
In Thursday's trade, Keppel shares hit an all-time high of S$21.70.
The stock has gained some 23 percent since the start of the year.
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