Boustead's Q2 profit nearly doubles to S$17.5m
TECHNOLOGY and engineering firm Boustead Singapore reported a net profit of S$17.5 million for its second quarter ended Sept 30, 2014, up 94 per cent from S$9 million a year ago. Revenue increased 14 per cent to S$129.7 million, from S$113.3 million in the year-ago period.
An interim dividend of two cents per share was declared, unchanged from a year ago. Investors can also opt to get their dividends in scrip.
Boustead said its revenue is largely derived from project-oriented businesses so year-on-year comparisons, rather than quarterly results, will be more appropriate for analytical purposes.
Wong Fong Fui, Boustead chairman and CEO, said the company expects to deliver a reasonable level of profit for its current financial year. This is due to a strong order book and recent business development initiatives in the real estate solutions division, he said.
Boustead's order book stood at S$441 million at end-September.
The company said its real estate solutions division has secured S$200 million worth of contracts since April, more than what it got in the whole of its last financial year.
Boustead traded unchanged at S$1.85 a share before results were announced.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama