Singapore Stock Views - Singapore's Keppel Reports 56% Drop

Singapore's Keppel Corp says Q1 net profit falls 56 pct

Singapore's Keppel Corporation Ltd, the world's largest offshore oil rig builder, reported a 56 percent drop in quarterly net profit from a year earlier to S$331 million ($267.75 million), in the absence of one-time gains from sales of its Reflections at Keppel Bay units.

The conglomerate, which has businesses in property, telecommunications and infrastructure, said revenue in the three months ended March 31 fell 35.3 percent from a year earlier to S$2,758 million.