January 24, 2019 / 9:33 AM / 7 months ago

Singapore's Keppel swings to profit in Q4

SINGAPORE, Jan 24 (Reuters) - Singaporean conglomerate Keppel Corp swung to a net profit in the fourth quarter versus a loss in the year-earlier period.

The company said net profit came in at S$135 million for the quarter ended December, compared with a net loss of S$492 million in the year-earlier period, when it accounted for a fine its rig-building unit agreed to pay to resolve a probe into charges it bribed Brazilian officials.

The latest quarter’s result was 6 percent higher than the profit of S$127 million it would have reported a year earlier, excluding the fine and related costs.

It reported an annual profit of S$944 million. (Reporting by Aradhana Aravindan; Editing by Nick Macfie)

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