Keppel's H1 profit jumps 25% as core businesses power growth (updated)

Keppel

30/07/2026 01:52

Updates with further details on results from paragraph 3
July 30 (Reuters) - Singapore's Keppel KPLM.SI posted a 25% rise in half-year profit on Thursday on the back of stronger contributions from asset management and operating segment that include its infrastructure business.
The asset manager's net profit, excluding the non-core portfolio for divestment, rose to S$530 million ($411.4 million) for the six months ended June, compared with S$431 million reported a year earlier.
The infrastructure arm, Keppel's biggest contributor to earnings, recorded a 55% increase in profit to S$339 million, driven by robust performance in the integrated power business, outweighing softer spark spreads and the impact of the Middle East conflict on costs.
Profit rose 54% at the connectivity division, which operates Keppel's data center business, cashing in on rising demand for AI and digital infrastructure. The segment commercialised all five of its Bifrost Cable System fibre pairs. 
Meanwhile, its real estate segment posted a net loss of S$19 million, extending a decline from last quarter due to the absence of gains from a partial disposal of Saigon Centre last year.
Keppel declared an interim dividend of 15 Singapore cents apiece, matching the interim dividend declared last year.



($1 = 1.2883 Singapore dollars)

 (Reporting by Keshav Singh Chundawat and Jasmeen Ara Shaikh in Bengaluru; Editing by Shailesh Kuber and Mrigank Dhaniwala)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com
; Keshav.SinghChundawat@thomsonreuters.com))