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One-off gains boost Boustead Singapore Q4 net profit to S$9.2m
ONE-OFF gains resulted in technology and engineering group Boustead Singapore reporting a net profit of S$9.2 million for its fourth quarter ended March 31, 2017, more than double from S$4.1 million a year ago.
Revenue dropped 19 per cent to S$91 million from S$112.5 million a year ago, mainly due to a fall in revenue for the real estate solutions arm.
But the firm was boosted by gains on disposing an available-for-sale financial asset and compensation for the early termination of a lease, offset by impairment losses on an investment property and currency losses.
A final dividend of 1.5 cents a share was proposed, down from 2 cents a year ago.
Boustead last traded at S$0.88 a share, up a cent, before results were announced.