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Keppel T&T: 3Q & 9M Net Profit Lower Due Mainly To Absence Of Divestment Gains.

17 Oct 2017 17:52

Revenue decreased by 8% to $133.3 million compared to 9M 2016. Net profit attributable to shareholders for 3Q 2017 was $12.8m, decreasing by 82% compared to the same period last year. This was largely due to the absence of gain from a divestment made in 3Q 2016 and the contributions from subsidiaries disposed. During 3Q 2016, one-off gains amounting to $55.8 million were recognised on the disposal of a subsidiary and adjustment for sale proceeds of data centres disposed, partly offset by impairment loss on fixed assets. Excluding the one-off gains in 3Q 2016, net profit attributable to shareholders for 3Q 2017 would have decreased by 27% instead. Correspondingly, net profit attributable to shareholders for 9M 2017 decreased by 66% to $34.6 million compared to 9M 2016. Earnings per share for 9M 2017 were 6.2 cents. Net asset value per ordinary share was $1.45 per share compared to $1.43 per share at December 2016. Net gearing was 0.38x compared to 0.53x at December 2016...

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Source: ShareInvestor Express