25 Jan '11, 12pm

DTN Singapore: Keppel Corp's full-year net profit rises 12.2%: SINGAPORE : Keppel Corporation on Tuesday said it...

SINGAPORE : Keppel Corporation, the world's largest offshore rig-builder, posted sterling full year results for 2010. Its net profit rose by 12.2 per cent on-year to a new high of S$1.42 billion. But its revenue fell 20.1 per cent on-year to S$9.78 billion. Keppel said this is due to a reduced order book for the offshore and marine segment. The group also delivered a strong fourth quarter, with net profit exceeding the S$400 million mark for the first time. Keppel's Offshore and Marine business reeled in a significant net profit of S$987 million last year, up 22 per cent compared to a year ago. Property was the other segment which performed well as it raked in S$326 million, a 55 per cent increase on-year. Together, the two segments contribute over 90 per cent of the company's net profits. Keppel Corporation said offshore and marine will remain a key component of its busin...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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