Keppel T&T posts 4.2% rise in Q3 net profit to $14.1 million

Keppel Telecommunications & Transportation (Keppel T&T) has posted a 4.2 per cent rise in third quarter net profit to $14.1 million.

Revenue for the three months to Sept 30 was up 17.9 per cent at $40.4 million, thanks to higher revenue from data centre and logistics divisions.

Operating profit at $5.1 million, was down 11 per cent, mainly due to lower contribution from logistics operations.

This was partly offset by higher contribution from data centre operations.

Pretax profit increased by 5 per cent to $18.9 million, due to higher contributions from associated companies, partly offset by lower operating profit and higher interest expense.

Earnings per share climbed to 2.5 cents from 2.4 cents previously while net asset value per share improved to 82 cents compared to 77 cents as at Dec 31.

Looking ahead, Keppel T&T said the logistics division would continue to focus on implementing its various projects while maintaining high occupancy rates in its existing facilities.

In Singapore, work on the two hectare logistics facility in Tampines is on schedule.

Meanwhile, the data centre division continues to enjoy high occupancy rates.

Work on the development of the group's third data centre in Singapore is progressing well.

Demand for data centre services remains strong in its key markets and the group expects to reap more benefits from this trend through seeking new data centre development projects.