Keppel Limited (KPELY.PK, KPELF.PK), a Singaporean infrastructure company, on Thursday reported a decline in net profit for the first-half, amidst legacy O&M assets and a fall in revenue.
For the first-half, the company posted a net profit of S$304 million or 16.7 cents per share, lower than S$3.627 billion 24.9 cents per share, recorded for the same period last year.
Excluding legacy O&M assets, income per share stood at 28.2 cents as against previous year's 26.9 cents per share.
Excluding legacy O&M assets, earnings from continuing operations stood at S$513 million, higher than S$481 million in 2023.
Profit from discontinued operations was S$0, compared with previous year's S$3.182 billion.
Legacy O&M assets stood negative at S$209 million, compared with negative S$36 million a year ago.
Operating profit slipped to S$506 million from S$572 million last year.
As at the end of June 2024, funds under management grew by 55 percent to S$85 billion from S$55 billion at the end of 2023.
Revenue was S$3.224 billion, down from prior year's S$3.716 billion.
The Board will pay an interim cash dividend of 15 cents per share on August 23.
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