Stock Earnings: Keppel reported flat 1st quarter net profit!

Keppel Land Ltd may drop after reporting flat first-quarter net profit due to higher finance costs. The property developer posted net income of 36.34 mln sgd compared to 36. 25 mln the year before. The company said operating profit in the quarter fell to 38.45 mln sgd from 41.63 mln a year earlier although total revenue grew 26 pct. Keppel Land finished up 0.04 sgd at 4.82 yesterday.