SINGAPUR (dpa-AFX) - Keppel Limited (KPELY.PK, KPELF.PK), a Singaporean asset manager and infrastructure company, reported Wednesday that its fiscal 2024 net profit from continuing operations grew 5 percent to S$1.06 billion from last year's S$1.02 billion.
The company noted that all three segments - Infrastructure, Real Estate and Connectivity - were profitable in the year.
The Infrastructure Segment contributed 63% of Keppel's net profit with stable recurring income.
The fast-growing Connectivity Segment's earnings climbed 45% year on year.
In 2024, the Company's recurring income was $766 million, representing 72% of FY24's net profit from continuing operations, up from 21% three years ago in FY21.
FUM grew 60% from last year to S$88 billion at end-2024.
Asset management fees grew 54% yar-over-year to S$436 million.
Further, the company announced plans to pursue two new subsea cable systems with 30 fibre pairs connecting Singapore with the rest of Asia and beyond.
The Board has proposed a final cash dividend of 19.0 cents per share for the year, to be paid to shareholders on May 9, after approval at the Company's annual general meeting.
The total cash dividend for FY24 is 34.0 cents per share.
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