Singaporean conglomerate Keppel Corp reported a 29 percent rise in third-quarter profit, boosted by higher profits from China and Vietnam property trading, the power and gas and asset management businesses and the sale of investments.
Group's net profit rose to S$291 million in the three months ended September 30 compared with S$225 million in the corresponding period a year earlier.
Revenue gained 11 percent to S$1.6 billion.
Revenue from the offshore & marine division declined S$136 million to $380 million in the quarter because of lower volume of work, the company said in a statement.
Offshore and marine division helps design and build high-performance mobile offshore rigs. It also repairs, converts and upgrades a diverse range of vessels. The business contributes nearly 30 percent to the group revenue.
The division is actively capturing opportunities in production assets, specialised vessels and the growing gas market and exploring ways to repurpose its technology in the offshore industry for other uses, the company said.
The Offshore & Marine Division's net order book stands at S$3.9 billion.
Revenue from the Property Division improved by S$67 million to S$546 million due mainly to higher revenue from Vietnam partly offset by lower revenue from Singapore, Keppel said.
Shares in Keppel Corp rose 2.4 percent to S$7.19 on the Singapore Exchange.