KEPPEL CORPORATION LIMITED Proforma Financial Statement And
KEPPEL CORPORATION LIMITED Proforma Financial Statement and Dividend Announcement 1 UNAUDITED RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2003 The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the first quarter ended 31 March 2003. 1(a) GROUP PROFIT AND LOSS ACCOUNTS for the first quarter ended 31 March 2003 G r o u p 1Q 2003 1Q 2002 $'000 $’000 +/(-)% Turnover 1,744,101 1,163,567 +49.9 Materials and subcontract costs (1,335,903) (864,247) +54.6 Staff costs (170,576) (115,493) +47.7 Depreciation and amortisation (54,853) (42,298) +29.7 Other operating expenses (62,301) (26,275) +137.1 Operating profit 120,468 115,254 +4.5 Investment income 1,748 1,676 +4.3 Interest income 7,101 7,700 -7.8 Interest expenses (13,903) (13,492) +3.0 Share of results of associated companies 16,162 19,918 -18.9 Profit before tax & exceptional items 131,576 131,056 +0.4 Exceptional items 827 -NM Profit before taxation 132,403 131,056 +1.0 Taxation (12,555) (25,969) -51.7 Profit after taxation 119,848 105,087 +14.0 Minority interests (24,889) (23,007) +8.2 Profit attributable to shareholders 94,959 82,080 +15.7 Comprising: Profit before exceptional items 94,107 82,080 +14.7 Exceptional items 852 -NM 94,959 82,080 +15.7 Group earnings per ordinary shares Before exceptional items - basic 12.2 cts 10.7 cts +14.0 - diluted 12.1 cts 10.6 cts +14.2 After exceptional items - basic 12.3 cts 10.7 cts +15.0 - diluted 12.3 cts 10.6 cts +16.0 NM - Not Meaningful Keppel Corporation Limited, Page 1 of 13 Notes: (i) Operating
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