Keppel profits up 30% to $291.55m in Q3

It gained $128m from selling its subsidiaries.

Keppel Corporation's profits surged 30% YoY from $224.53m to $291.55m in Q3.

According to its financial statement, revenue also rose 10.8% to $1.62b, whilst operating profits gained 74.6% to $324.09m.

OCBC Investment Research said earnings were boosted by a $128m gain from the disposal of the subsidiaries Keppel Lakefront, Wiseland Investment, Keppel DC Singapore 4, Keppel Verolme, and other units.

The offshore and marine (O&M) division continued to breakeven, whilst the property division's profits rose 26% YoY to $198m.

Infrastructure's net profit was 3% YoY higher at $40m, whilst the investment segment's profit hit $18m.

Keppel's property division contributed the most to earnings at 68%, followed by investments at 18%, and infrastructure at 14%.