Recurring income, comprising profits from asset management and operations, made up more than 80% of Keppel's 1QFY2025 net profit, excluding the legacy O&M assets. Including the legacy O&M assets, net profit for 1QFY2025 more than doubled y-o-y, due mainly to lower losses from these legacy assets.
Keppel's net profit grew by over 25% y-o-y in 1QFY2025 ended March 31, excluding legacy offshore and marine (O&M) assets, driven by strong and steady performance in the infrastructure segment, higher contributions from the real estate segment and stronger performance in asset management.
According to an April 24 announcement, the latter included a full quarter of contributions from Aermont Capital.
