Boustead Projects' Q2 profit falls 33% to S$5.5m on lower margins
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
BOUSTEAD Projects, the spun-off real estate arm of Boustead Singapore, reported net profit of S$5.5 million for its second quarter ended Sept 30, 2015, down a third from S$8.16 million a year ago.
Revenue was up 6 per cent to S$53.8 million, from S$50.9 million a year ago.
The decline in profit was mainly due to lower gross margins for its design and build arm, which develops industrial and commercial properties.
Its leasing business is doing better due to contributions from the completion of three design, build and lease projects in the previous financial year.
Boustead Projects closed at S$0.815, up half a cent, before results were out.
Copyright SPH Media. All rights reserved.
TRENDING NOW
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
