Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Keppel predicts more offshore orders

Singapore: Reporting fourth quarter net profit up 26% on the strength of higher oil rig sales and raised property earnings, Keppel Corp's Finance Director Teo Soon Hoe predicts a growing requirement for deepwater equipment and floating production solutions as the quest for new sources of oil moves further offshore into deeper waters. The world's largest rig builder produced some sparkling figures for 2006. Reporting them to analysts yesterday, the company's Finance Director pointed to full year earnings up by 33% to $751m, yielding earnings per share of 95.4 cents. "Our businesses generated robust free cash flow of $1.5 billion," he said, "more than twice the amount generated in 2005, lowering net gearing to 24%." Return on equity increased to just over 19%, compared with 16.4% one year earlier and total new contracts signed in 2006 amounted to $7.3 billion.  [31/01/07]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish