Keppel H2 profit from continuing operations up 19.9% to S$527.9 million

KEPPEL recorded a profit from continuing operations of S$527.9 million for its second half ended Dec 31, up 19.9 per cent from S$440.3 million in the year-ago period.

Including profit from discontinued operations, this brings its total profit to S$636 million for its second half up 44.6 per cent from S$439.9 million from the year-ago period, it said on on Wednesday (Feb 5).

This translates to a basic earnings per share (EPS) of S$0.349, a 41.9 per cent increase from S$0.246 previously. EPS from continuing operations was at S$0.29, up 17.9 per cent from S$0.246 in the previous corresponding period.

Revenue for H2 rose 3.9 per cent to S$3.4 billion from S$3.3 billion in the previous corresponding period.

The asset manager proposed a final cash dividend of S$0.19 per share for FY2024, unchanged from the S$0.19 per share dividend declared in the previous corresponding period. The proposed final dividend will be paid on May 9 if it is approved by shareholders at the next annual general meeting scheduled to be held on Apr 21.

Together with an interim dividend of S$0.15 per share, paid to shareholders in August 2024, this brings the total cash dividend for FY2024 to S$0.34 per share.

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Its full-year profit from continuing operations fell 6 per cent to S$832 million from S$885.2 million in the year ago period. Its profits from both discontinued and continuing operations for the full year declined 76.9 per cent to S$940.2 million from S$4.1 billion in the previous corresponding period.

This translates to a basic EPS of S$0.516, down 77.3 per cent from S$2.276 previously. EPS from continuing operations was at S$0.457, down 7.7 per cent from S$0.495.

Revenue for the full year fell 5.2 per cent to S$6.6 billion from S$6.9 billion.

Shares of Keppel closed down 1.6 per cent or S$0.11 at S$6.63 on Tuesday.

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