Oil rig builder Keppel Corp Q3 net profit down 15%

Singapore’s Keppel Corp, the world’s largest oil rig builder, reported third-quarter net profit of $346 million - down 15 percent from a year earlier - as a result of lower-margin projects.

The third-quarter figure was above the $324 million average forecast of five analysts polled by Reuters.   

Keppel made net profit of $520.9 million in the April-June quarter of this year when it booked gains from property units it sold earlier via a deferred payment plan.