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Keppel Limited Reports 5% Net Profit Growth in FY24

Keppel Limited achieves 5% net profit growth to S$1.06 billion for FY24, fueled by steady performance across all segments. Solid recurring income constitutes 72% of net profits, showcasing the company's strong financial health.

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AI Rating:   7
Net Income
Keppel Limited's net profit from continuing operations increased by 5% to S$1.06 billion for fiscal year 2024, contrasting with S$1.02 billion from the previous year. This upward trend indicates positive earnings performance for the company.

Profit Margins
The Infrastructure Segment, which contributed 63% of the net profit, generated stable recurring income supporting the company's financial foundation.

Revenue Growth
The Connectivity Segment showed remarkable performance with a year-over-year earnings increase of 45%. This growth is significant and suggests that the company is effectively capitalizing on expanding market opportunities.

Recurring Income
In fiscal 2024, recurring income reached $766 million, accounting for 72% of the net profit from continuing operations. This is a significant increase from 21% three years ago, indicating improved stability and reliability of earnings over time.

Cash Dividend
The Board’s proposal of a final cash dividend of 19.0 cents per share, totaling 34.0 cents for FY24, reflects the company’s commitment to sharing profits with shareholders and financial strength to support dividend payments. Overall, this report demonstrates Keppel Limited's strong performance and growth prospects, particularly within its sectors, indicating a positive outlook.
Stocks:  KPELY KPELF