Boustead Projects' Q4 earnings jump 165% on one-off gains

Singapore

REAL-ESTATE player Boustead Projects reported a 165 per cent jump in fourth-quarter earnings, thanks mainly to one-off gains for the period.

The group's net profit attributable to shareholders climbed to S$14.3 million in the three months ended March 31, 2017, from S$5.4 million the year before.

This was despite a 35 per cent year-on-year drop in revenue to SS$38.5 million in the fourth quarter, due to lower revenue contributions from both its design-and-build and leasing businesses.

For the full year, the group's revenue totalled S$228.3 million - 11 per cent down from S$255.5 million the year before, due also to lower contributions from its design-and-build and leasing busine…