Keppel Land net profit jumped 45.5% in 1Q 2011

Net profit grew to $92.1 million on higher profit from property trading and K-REIT Asia as well as a gain from divestment of Keppel Digihub.

According to Keppel Land, property trading recorded an 8.2% increase in net profit to $51.6 million contributed by sales of Singapore residential projects, in particular Reflections at Keppel Bay and The Lakefront Residences, as well as Elita Promenade in Bangalore, India upon its physical completion in March 2011. Profit from property investment was 15.7% higher at $14.3 million mainly from increased contribution from K-REIT Asia.

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