The group also reported a 51% y-o-y growth in recurring income for the quarter driven by stronger contributions from asset management and operating income.
Keppel has reported revenue for continuing operations of $1.5 billion in the 1QFY2024 ended March 31, 6.25% lower than $1.6 billion in the corresponding quarter the year before. The revenue saw higher contributions from its infrastructure and connectivity segments which offset the lower revenue from its real estate segment.
While no numbers were revealed, the group said that net profit for the quarter fell y-o-y including the effects of its legacy offshore and marine (O&M) assets and mitigated by stronger performances from its infrastructure and connectivity segments. Excluding its O&M assets, net profit improved y-o-y.
