Keppel T&T posts 30% drop in full year earnings to $55.5m
KEPPEL Telecommunications & Transportation (Keppel T&T) today reported a 30.2 per cent drop in net profit to $55.5 million.
This was despite its revenue rising by 16.4 per cent to $137.5 million for the year ended Dec 31.
The fall in bottomline was largely due to a 92.8 per cent decrease in other income to $1.9 million, due to the absence of gain on disposals of investments, lower dilution gain in an associated company and sundry income.
In 2011, other income comprised largely a one-time gain on disposals of Wuhu Annto and non-core businesses.