Published:
Keppel T&T’s profit plummets by 77.6% to $44.5m
They had no one-off divestments this time.
Keppel’s transportation and telecommunication arm took a huge hit in its profit as it wasn’t able to bank on a huge one-off gain this time, despite enjoying one last year.
According to a press release by Keppel T&T, the divestment of assets in 2014 comprising of the sale of data centre assets to Keppel DC REIT contributed a whopping $186.4m to the 2014 net profit, resulting in the subsequent drop this quarter.
Excluding the divestment gains, the press release said the profit was higher by $31.3m.
Additionally, Keppel T&T says its revenue was also lower by 11% to $200.6m.
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