Keppel Telecommunications & Transportation Ltd Unaudited Results For The First Quarter Ended 31 March 2018

The Directors of Keppel Telecommunications & Transportation Ltd advise the following results of the Company and of the Group for the first quarter ended 31 March 2018.

These figures have not been audited.


Keppel T&T reports higher 1Q revenue on stronger DC Division performance

For the first quarter ended 31 March 2018, Keppel T&T reported a 5% year on year increase in revenue to $42.8 million due mainly to higher facility and project management fee income from the Data Centre Division, partly offset by weaker contribution from the logistics operations in China.

Net profit attributable to shareholders, at $9.4 million during the period, decreased by 16% compared to 1Q 2017 due mainly to the higher overheads incurred on developing the new channel management business in the Logistics Division and increased manpower to support new business developments in the Data Centre Division.

Share of results from associated companies and joint ventures at $16.0 million decreased by 4% compared to $16.6 million* for 1Q 2017.

Earnings per share for 1Q 2018 was 1.7 cents, compared to 2.0 cents* for the same quarter last year.

Mr Thomas Pang, CEO of Keppel T&T, said, "As Keppel T&T progresses on its new growth phase, we are working hard to evolve our Logistics and Data Centre businesses, building new capabilities to position them for long term, sustainable growth. We shall continue to optimise cost, improve margins and also intensify efforts to pursue new asset development and acquisition opportunities for better returns."

The Logistics Division raised its stake in UrbanFox from 59.6% to 85% to further increase its exposure to the opportunities in the e-commerce market. UrbanFox also secured new contracts to provide channel management and last mile deliveries services and solutions. Meanwhile, the Logistics Division continues on efforts to optimise costs and strategically review its China logistics portfolio.

The Data Centre Division also made good progress in the phase 2 fit-out of Keppel DC Singapore 4, which enjoys healthy occupancy and continues to receive enquiries from key customers. Looking ahead, the Data Centre Division continues to intensify efforts to pursue asset development and acquisition opportunities in new markets.

Keppel T&T's net asset value per ordinary share increased to $1.53 per share, compared to $1.52 per share* as at 31 December 2017. Net gearing was 0.38x as at 31 March 2018, unchanged from 31 December 2017.


* The figures for 2017 have been restated following the adoption of Singapore Financial Reporting Standards (International) (SFRS(I)s) on 1 January 2018.


Download - KTT 1Q2018 Unaudited Results

For more information, please contact:

Ang Lai Lee (Mr)
Assistant General Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: +65 6413 6427 / +65 8233 9299
Investor Relations
Ivana Chua (Ms)
Assistant General Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: +65 6413 6436

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