Singapore’s Keppel Corporation Limited (Keppel) reported a net profit of over S$3.6 billion for the half year ended 30 June 2023, the highest profit on record in the Company’s 55-year history. 1H23’s net profit was significantly higher than the S$498 million reported in 1H22, underpinned by a S$3.3 billion disposal gain from the divestment of the offshore and marine (O&M) business.
Excluding the discontinued O&M operations in both periods, Keppel said it delivered a robust net profit of S$445 million in 1H23, which was about 3% higher year on year (yoy), bolstered by a stronger performance by the Infrastructure and Connectivity segments. About 76% of 1H23’s net profit from continuing operations comprised recurring income, which surged 62% yoy to S$340 million from S$210 million in 1H22.
Guyana FPSOs ramping up traffic at Asian shipyard | OilNOW
The Company’s revenue from continuing operations in 1H23 grew 11% to S$3.7 million from S$3.4 million in 1H22, underpinned by higher contributions from the Infrastructure and Connectivity segments.
Its Singapore-based Shipyard has played an integral role in the construction of Guyana’s production vessels. It handled the integration of topside modules for the Liza Destiny, Liza Unity and Prosperity vessels. There is also the ONE GUYANA vessel that is still under construction. It is currently 60% completed.
