Keppel Corporation posted their 1Q FY 2016 earning report in summary below. 1Q earnings decline 41% to $211 million from $360 million a year ago. Keppel said the higher contribution from its property division at 47% helped to partially offset lower profits from Offshore & Marine. Its Offshore & Marine division delivered three drilling jackups in 1Q, including one unit to Gulf Drilling International at the start of the year. It also delivered a lift boat and a Transformer platform.
- Net Profit fall of 41% for 1Q 2016 to $211 million
- Earnings Per Share was 11.6 cents, down 41% from 1Q 2015's 19.8 cents
- Annualised Return on Equity of 7.1%
- Economic Value Added decreased to $2 million from $122 million
- Cash outflow of $306 million
- Net gearing was 0.56x
Keppel Corporation faces a challenging environment on
- Weaker global growth
- Oil & gas sector remains challenging
- Continued ...
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