Singaporean conglomerate Keppel Corp on Thursday reported a 21 percent fall in second-quarter profit, hurt by lower revenue from its offshore and marine business.
Group's net profit fell to S$161 million in the three months ended June 30 compared with S$205 million in the corresponding period a year earlier.
Revenue declined 4 percent to S$1,554 million.
Revenue from the offshore & marine division declined $271 million to $449 million 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.
Keppel Corp declared an interim cash dividend of 8 cents per share.