Singapore’s Keppel logs strong nine-month earnings growth on energy boost

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(Reuters) – Singapore’s Keppel Corp on Thursday posted higher nine-month revenue and net profit, boosted by strong performance in its integrated power business and operational improvements in its infrastructure and connectivity segments.

The company’s infrastructure unit clocked more than S$1.3 billion ($945.94 million) of new Energy-as-a-Service contracts in the nine months, bringing long-term supply and services contract backlog to S$4.1 billion, with earnings visibility over 10-15 years.

Keppel did not disclose a profit figure, but said revenue from continuing operations for the nine months ended Sept. 30 rose 5% to S$5.27 billion.

Keppel, which announced a restructuring plan in May to transform itself into an asset manager overseeing $150 billion by 2030 and focusing on green energy, added that net profit for the September-quarter was higher, underpinned by its robust integrated power business.

($1 = 1.3743 Singapore dollars)

(Reporting by Roushni Nair and Himanshi Akhand in Bengaluru; Editing by Devika Syamnath and Sonia Cheema)

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