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KepLand posts 17.2% fall in Q1 profit

Lower property sales and divestments of Equity Plaza and MBFC Tower 3 cited; revenue falls 2.3% to S$278.4m

Published Wed, Apr 15, 2015 · 09:50 PM

Singapore

KEPPEL Land posted a 17.2 per cent year-on-year fall to S$72.6 million in first-quarter net profit as it clocked in lower property sales and stopped recognising contributions from Equity Plaza and Marina Bay Financial Centre (MBFC) Tower 3 following their divestments last year.

Revenue for the three months ended March 31 slipped 2.3 per cent to S$278.4 million, it said on Wednesday.

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