Keppel Corp 2Q earnings sink 22% to $160.3 mil on lower offshore & marine contributions

SINGAPORE (July 20): Keppel Corporation has posted a 22.1% decline in earnings to $160.3 million for the second quarter ended June, from $205.8 million a year ago.

This was mainly to lower revenue from its offshore & marine division, which fell by $271 million to $449 million because of lower volume of work.

Keppel’s pre-tax profit for 2Q fell 24% to $218 million. This was mainly attributable to an $80 million drop in pre-tax profit of the offshore & marine division to $8 million.

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