Boustead Projects' Q4 profit jumps 165%

BOUSTEAD Projects reported on Monday a 165 per cent jump in fourth-quarter net profit attributable to shareholders 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 S$38.5 million in Q4.

Boustead Projects said the improved bottomline was due to other gains and losses, primarily the non-recurring compensation from the early termination of the lease of a property to AusGroup and the gain from the sale of the group's interest in TripleOne Somerset.

Its earnings per share for Q4 were 4.5 cents, from 1.7 cents the year before.