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Boustead Projects' Q1 profit sinks 19%

BOUSTEAD Projects reported a 19 per cent drop in net profit to S$4.8 million in the first quarter ended June 30, 2015, from S$6 million a year ago on the back of higher finance expenses.

Revenue was flat at S$56.6 million from S$56.4 million while earnings per share came in lower at 1.5 Singapore cents versus 1.9 Singapore cents a year ago.

The counter fell 2.5 Singapore cents or 3 per cent to 79.5 Singapore cents.