The bellwether Straits Times Index pulled off a lacklustre performance last year, ending 0.3% below its 2022 close.
However, there were a few standout performers within the blue-chip index.
One of these stocks was Keppel Ltd (SGX: BN4).
The conglomerate-turned-asset manager pulled off a stunning 61% total return last year.
Keppel has been growing its business steadily over the past year, leading investors to wonder – can the group pull off a similar performance for 2024?
Let us find out.
Solid sets of financial metrics
Keppel reported a robust set of financial results for the first nine months of 2023 (9M 2023) as well as progress for its asset monetisation target.
Revenue for 9M 2023 grew 5% year on year to S$5.3 billion, driven by top-line growth for its Infrastructure and Connectivity divisions but offset by a weaker performance for the Real Estate division.
Net profit for this period was significantly higher year on year, even after excluding discontinued operations....