Boustead Projects' Q1 profit slips 19%, led by higher finance expenses

Singapore

REAL-ESTATE solutions specialist Boustead Projects reported a 19 per cent drop in its net profit for the first quarter ended June 30, 2015, to S$4.8 million due to higher finance expenses, foreign-exchange losses and weaker margins.

After adjusting for unrealised currency-exchange losses, quarterly net profit came in 7 per cent lower than in the previous year's corresponding quarter.