Keppel Corporation posted their 3Q FY 2016 earning report in summary below. 3Q earnings decline 38% to $225 million from $363 million a year ago. Keppel said the higher contribution from its property division at 55% helped to partially offset lower profits from Offshore & Marine division at 26%. This is due to the lower volume of work, deferment of some projects and the suspension of Sete Brasil contracts.
- Net Profit fall of 38% for 3Q 2016 to $225 million
- Earnings Per Share was 35.3 cents, down 43% from 9M 2015's 61.7 cents
- Annualised Return on Equity of 7.6%
- Economic Value Added decreased to $39 million from $456 million
- Cash inflow of $552 million, compared to cash outflow of $784 million a year ago
- Net gearing was 0.57x
Keppel Corporation faces a challenging environment on
- Slow global growth
- Continuing challenges in offshore sector despite gradual recovery ...
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