1. A blowout set of earnings
Revenue for 2023 rose 5.2% year on year to S$6.9 billion, with two out of Keppel’s three segments posting year-on-year revenue growth. Operating profit for the group surged 90.4% year on year to S$1.1 billion. Net profit more than quadrupled year on year to S$4.1 billion with the sale of its O&M division generating a net profit of S$3.2 billion....It has been an exhilarating ride for investors of Keppel Ltd (SGX: BN4).
The asset manager has undergone a stark transformation in the past two years that has seen the group morphing from a conglomerate to an asset-light outfit.
This transformation began with the divestment of its offshore and marine (O&M) unit back in late 2022 and was followed up by a major reorganisation in May last year.
Last week, Keppel announced its 2023 earnings with much fanfare as the group reported its highest-ever net profit of S$4.1 billion.
Here are five salient highlights from Keppel’s latest earnings report.
