(Reuters) -Singapore’s Keppel Ltd posted on Thursday a 7% rise in its first-half underlying profit, as upbeat performances at the infrastructure and connectivity segments offset a decline in its real estate business.
The global asset manager’s net profit from continuing operations for the six-month period ended June 30 came in at S$513 million ($383.98 million), a jump from S$481 million last year.
Long-term technology solutions and energy services contracts expanded by more than 20% to S$5.2 billion at the infrastructure division during the reported period.
“In (the half year) all segments were profitable with stronger earnings in the Infrastructure and Connectivity segments more than offsetting a decline in Real Estate contributions,” the company said.
Keppel, which is transitioning into an asset manager with a target of overseeing $150 billion by 2030, declared an interim dividend of 15 Singapore cents per share, in line with last year’s payout.
($1 = 1.3360 Singapore dollars)
(Reporting by Ayushman Ojha and John Biju in Bengaluru; Editing by Sherry Jacob-Phillips)
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