Keppel T&T's Q3 profit up 31.2% to $18.5 million

SINGAPORE - Strong market demand for its data services has helped logistics and data centre services firm Keppel Telecommunications & Transportation (Keppel T&T) to reap a healthy improvement in quarterly profit.

Third quarter earnings rose to $18.5 million, an increase of 31.2 per cent compared with the same period a year ago.

Profit went up as revenue for the three months ended Sep 30 jumped 29.5 per cent to to $53.7 million.

Keppel T&T said turnover went up mainly because of higher revenue from its data centre and logistics divisions.

High occupancy was maintained for its logistics facilities while its data centre facilities also saw good demand.

Profit for the nine months rose 6 per cent to $48.2 million on a 26.1 per cent hike in revenue of $153.6 million.

Earnings per share stood at 3.3 cents at the end of the third quarter, up from 2.5 cents in the same period a year ago.

Net asset value per share came in at 91 cents at the end of September, up from 85 cents at the end of December.