Keppel T&T profit down 30% to $55.5m in FY12

Weaker other income ravaged its earnings.

In a release, Keppel T&T announced that its net profit attributable to shareholders for FY12 was $55.5m, down 30% from $79.4m the previous year.

Revenue increased 16% to $137.5m from $118.1m, while earnings per share decreased to 10.0 cents per share from 14.4 cents per share. Meanwhile, net asset value per ordinary share increased 9% to 77.0 cents per share.

Keppel T&T said its other income decreased due mainly to the absence of gain on disposals of investments, lower dilution gain in an associated company and sundry income. During the corresponding period of 2011, other income comprised largely a one-time gain on disposals of Wuhu Annto and non-core businesses.