It was dragged mainly by higher operating costs.
Keppel Telecommunications & Transportation (Keppel T&T) profits in Q3 went down 12% to $11.85m from $13.50m last year. Revenue however went up by 7% to $47.94m from $44.97m.
The Q3 net profit was down due to higher operating costs, which corresponded with higher revenue, as well as the partial disposal of Keppel DC Singapore 4 in Q3 2017, according to its financial statement.
Meanwhile, its revenue increased due to higher data centre facility management income, as well as revenue from warehousing and channel management business, which offset lower revenue from port operations in China, Keppel T&T said.
During Q3, Keppel T&T inked conditional agreements in collaboration with Alpha Data Centre Fund (ADCF) and Indonesian conglomerate Salim Group to embark on its first data centre development in Indonesia.
Keppel T&T will remain invested in M1 and will be part of Keppel Corporation’s initiative to drive the business transformation of M1.
Do you know more about this story? Contact us anonymously through this link.