Keppel’s offshore division bounces back to the black

Singapore’s offshore rig builder Keppel Offshore & Marine bounced back to the black during the first quarter of 2019 from a loss in the same period of 2018.

Keppel Offshore & Marine Division’s revenues were flat year on year amounting to S$332 million (US$245M) in both the first quarter of 2018 and 2019.

The Offshore & Marine division registered a net profit of S$6 million for 1Q 2019, compared to a net loss of S$23 million a year ago, due mainly to a share of results from associated companies which turned profitable year on year, as well as lower taxes.

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