Friday, January 20, 2012

Keppel Land net profit up 47% for Q4

Straits Times: Fri, Jan 20
DEVELOPER Keppel Land's fourth-quarter net profit jumped 47 per cent, thanks mainly to a one-time gain from the sale of its stake in Ocean Financial Centre.

Earnings hit $1.17 billion, while revenue for the three months to Dec 31 rocketed 186 per cent to $375.2 million compared with the same period in 2010.

Net profit for the full year gained 30 per cent to a record $1.37 billion - buoyed by a $508.1 million gain from the sale of the group's 87.5 per cent stake in Ocean Financial Centre...

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