Keppel T&T posts 93.1% drop in Q4 earnings

SINGAPORE - Keppel Telecommunications & Transportation (Keppel T&T) saw earnings tumble 93.1 per cent in the fourth quarter, on the back of a lower fair value gain on data centre investment properties and a smaller profit share from associates.

Net profit for the three months to Dec 31 came in at S$3.1 million.

Revenue slid 5.5 per cent to S$49.7 million, largely owing to lower turnover from the logistics and data centre divisions, said Keppel T&T on Wednesday.

Net profit for the full year, however, rose 14.9 per cent to S$105.1 million - helped by higher contribution from the data centre division, although partly offset by weaker contribution by the logistics division - while revenue dipped 3 per cent to S$194.6 million.

The data centre and logistics provider has proposed a final dividend of 4.5 cents, up from 3.5 cents previously.

Keppel T&T shares finished half a cent or 0.3 per cent higher at S$1.765 on Wednesday, before the results were released.