Keppel T&T’s profit surged 342.6% to $308.2m in FY14
Thanks to disposals and divestments.
Keppel Telecommunications and Transportation’s profit for the period surged 342.6% to $308m in FY2014, due largely to gains on disposal of the two data centre properties in Singapore and divestment of the associated companies.
Excluding these one-off gains, operating results for the fourth quarter would be comparable to the same period last year.
Associated companies and joint ventures increased by $79.7 million to $542.5 million due to acquisition of Keppel DC REIT and equity accounting for share of profits, partly offset by disposal of associated companies and dividends received.