Keppel Land Q3 profit slides 10.6% on lower sales
Divestment gains help absorb impact of revenue fall; drag comes from property trading segment
Singapore
KEPPEL Land's net profit for the third quarter ended Sept 30 slipped 10.6 per cent to S$113 million as divestment gains helped absorb the impact of lower sales.
Group revenue for the third quarter dived 59.6 per cent from a year ago to S$168.7 million, with the main drag coming from the property trading segment where there was an absence of revenue from The Lakefront Residences in Singapore as the project had obtained temporary occupation permit in May.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results