Via this so-called "New Keppel" metric, its earnings in the same half year ended June is up 25% y-o-y to $431 million, driven by "strong and steady" infrastructure and real estate earnings.
The company is generating more recurring income, with an increase of 7% to $444 million.
Funds under management, flagged by the company as it shifts from the old conglomerate business model to an asset manager, increased to $91 billion at end-June 2025.
Year to date, the company has announced $915 million worth of divestments, with another $500 million or so that Keppel hopes to conclude by end of the year.
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Keppel plans to maintain its interim dividend at 15 cents per share.
The company is also introducing a $500 million share buy back programme. Shares bought back will be held as treasury shares.
"As we accelerate the growth of New Keppel, we expect that the market will re-rate our stock price and accord us a growth multiple," says CEO Loh Chin Hua.
Keppel closed at $8.18 on July 30, up 0.25% for the day but up 19.07% year to date.
