Keppel Corp 2nd-Quarter Net Profit S$161 Million; Down 21% on Year

Keppel Corp. (BN4.SG) on Thursday reported a 21% drop in second-quarter net profit, in part because of lower profit contributions from its offshore-and-marine division and its infrastructure unit.

The Singapore-listed company said net profit for April-June fell to 161 million Singapore dollars (US$117.6 million) from S$205 million a year ago. This was also below market expectations of a S$215.4 million net profit, according to a FactSet estimate.

Revenue dropped 4% from a year ago to S$1.55 billion.

The company posted a net profit of S$421 million for the first half compared with S$416 million a year earlier, while revenue declined 17% to S$2.80 billion.

The company declared an interim cash dividend of S$0.08 a share.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

July 20, 2017 05:57 ET (09:57 GMT)