Four Singapore companies report higher profits for 2024

Four Singapore companies have reported higher profits for 2024, showing significant growth compared to previous years. Keppel's net profit rose 5% to S$1.06 billion, driven by increased asset management fees, despite a revenue decline. iFAST's net profit more than doubled to S$66.6 million, with a 53.6% revenue jump. The company also achieved its first profitable quarter for its digital bank division. Singapore Exchange Limited's net profit increased 27.3% to S$320.1 million, supported by a 15.6% rise in net revenue. Fraser and Neave reported an 18.8% profit increase, benefiting from strong sales in soft drinks and dairy products.