Keppel O&M Turns Profitable in 2019

Singapore’s Keppel Corp. Offshore & Marine division posted a profit for the full year 2019 citing cost cuts and lower impairment costs.

For the full year, Keppel O&M posted a net profit of S$10 million, a significant increase compared to a loss of S$109 in 2018. The management attributed profitability to increased topline, cost management, and lower impairment provisions.

Also, Keppel O&M saw its revenue rise to 49% to $775 million in the fourth quarter of 2019.

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