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Nikkei Markets

Property damps Keppel's profit but offshore business improves

Pivot to gas, renewal energy is paying off, says CEO

Keppel, the world's biggest maker of offshore rigs, earned 153 million Singapore dollars ($112.6 million) in the three months ended June, down from S$249 million in the same period a year ago.    © Reuters

SINGAPORE (Nikkei Markets) -- Singapore conglomerate Keppel Corp posted a 39% drop in second-quarter net profit and cut its dividend as earnings from property plunged. But the company's offshore and marine division showed signs of recovery amid a shift to liquefied natural gas and renewal energy.

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