News
TELECOM & INTERNET, TRANSPORT & LOGISTICS | Staff Reporter, Singapore
view(s)

Keppel T&T's full-year profits plunge 50.7% to $51.78m

The logistics division's weak performance dragged company revenue to $176.99m.

Keppel Telecommunications & Transportation Ltd (Keppel T&T) full-year profits fell 50.7% YoY to $51.78m, whilst its Q4 profits surged from $3.08m to $17.14m.

According to a financial statement, full-year revenue also fell 9.1% YoY to $176.99m, whilst operating profit slumped by 79% to $16.7m

The lower revenue was mainly caused by lower revenue from its logistics division and the absence of revenue due to the disposal of Keppel DC Singapore 3 Pte. Ltd. and Keppel DC REIT Management Pte. Ltd. in January 2017 and July 2016 respectively.

Net cash used in operating activities fell from $28.8m to $5.4m, due mainly to lower cash flow from operations after working capital changes, offset by interest and income taxes paid during the year. 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.