Keppel T&T net profit up 357% in Q3

SINGAPORE - Keppel Telecommunications & Transportation has posted a net profit of S$69.9 million in the third quarter, up 357 per cent from the same period a year ago.

Revenue in the three months ended Sept 30 was S$46.5 million, down 8.7 per cent from a year ago, due mainly to lower revenue from the logistics business, though this was partly offset by higher revenue from the data centre division.

But other income jumped to S$59.7 million from just S$1.7 million in the third quarter last year, thanks to a gain on disposal of a subsidiary and adjustment to gains from the two data centres disposed in December 2014.

Third quarter earnings per share was 12.5 cents, up from 2.8 cents in the third quarter last year.

Net asset value per share was S$1.41 as at Sept 30, up 8.5 per cent from a net asset value per share of S$1.30 as at Dec 31 last year.