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Keppel Land Earnings Muted by New Accounting Policy (20 Jul 11)
- Revenue: -67.2% (2Q11), +8.9% (1H11)
- Net Profit: -64.9% (2Q11), -33.7% (1H11)
- Press Release: Net profit lower at $133.8 million for the first half of 2011, mainly from decline in contribution from property trading
- Fall in property trading magnified due to revised accounting treatment
- Contribution from fund management grew 52% to $23.9 million
- K-REIT Asia and Alpha Investment Partners made acquisitions and divestments
- Outlook: The Group will continue to monitor the market and time launches for new projects and new phases of existing developments.
- The Group will also seize opportunities to acquire good sites in Singapore and overseas, not just for residential projects, but also for commercial and mixed-use developments.
FINANCIAL RECORDS
Revenue (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2011 357,892 104,187
2010 106,475 318,018 149,179 281,463 792,273
2009 145,711 249,935 227,768 300,455 923,869
2008 273,084 185,906 185,787 197,389 842,166
2007 295,416 359,150 381,967 371,353 1,407,886
2006 118,957 231,555 255,605 341,901 948,018
2005 94,469 144,145 162,945 184,832 586,391
2004 NA NA 96,026 94,867 476,165
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Earnings (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2011 92,070 50,517
2010 63,265 143,792 70,103 841,013 1,045,831 (incl. Corporate Restucturing Surplus)
2009 36,885 58,174 78,506 106,851 280,416
2008 60,285 52,675 46,173 68,536 227,669
2007 62,467 63,008 81,838 572,337 779,650
2006 36,343 44,278 38,467 81,222 200,310
2005 36,247 30,750 33,172 55,540 155,709
2004 NA NA 32,410 40,371 132,687
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Dividends
FY Interim Final Special (SGD)
2011 NA
2010 NA 0.09 0.09
2009 NA 0.08 NA
2008 NA 0.08 NA
2007 NA 0.08 0.12
2006 NA 0.06 NA
2005 NA 0.05 NA
2004 NA 0.05 NA
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Bonus / Rights / Stock Split
Date Type Details
2009-04-24 Rights OFFER OF 9 FOR 10 @ $1.09
2006-04-13 Share Offer 1 K-REIT/5 SH OFFER OF 1 FOR 5
2006-04-13 Cash Offer 1 K-REIT/5 SH SGD 0.295 NET OF TAX
2006-04-13 Cash Offer 1 K-REIT/5 SH SGD 0.071 ONE-TIER TAX
1996-01-04 Rights OFFER OF 1 FOR 4 @ $0.8
1993-09-22 Bonus OFFER OF 1 FOR 10
1993-09-22 Rights OFFER OF 1 FOR 4 @ $2
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Share Data (SGD)
NAV = $2.72
EPS = $0.091 (6M FY11)
Diluted EPS = $0.091 (6M FY11)
No of Shares = 1,489,833,414
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