SINGAPORE: Keppel Corporation has announced a share buyback programme of up to S$500 million after reporting higher earnings for the first half of FY2025 (H1 FY2025). Earnings rose 24.2% year-on-year to S$377.7 million for the six months ended June, although revenue fell 5.2% to S$3.06 billion, partly due to lower utilities sales, as reported by The Edge Singapore.
In a media release on Thursday (July 31), the company said, “Shares repurchased will be held as treasury shares, which will be used in part for the annual vesting of employee share plans, and as possible currency for future merger and acquisition activities.”
The company also posted a higher net profit of S$431 million, up 25% YoY compared to S$345 million from the same period last year, excluding non-core portfolio assets held for divestment, thanks to steady earnings in its infrastructure segment and stronger real estate contributions.
CEO Loh Chin Hua said, “By reporting the non-core portfolio separately, we aim to provide greater transparency on our performance as a global asset manager and operator.”
Recurring income also rose by 7% to S$444 million.
As of end-June 2025, the company’s funds under management (FUM) grew to S$91 billion amid active capital raising efforts, while asset management fees reached S$195 million.
Keppel also announced S$915 million worth of asset sales so far this year, with over S$500 million in potential divestments currently being negotiated.
The group plans to maintain its interim dividend at 15 cents per share, the same as last year. /TISG
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