Boustead Q2 profit drops 41% on oil and gas weakness

Singapore

BOUSTEAD'S net profit fell 41 per cent in its second fiscal quarter as demand from the oil and gas segment weakened, the infrastructure engineering company said.

Earnings fell to S$10.3 million, or two Singapore cents per share, for the three months ended September. For its fiscal first-half, profit halved to S$16.6 million, or 3.2 Singapore cents per share.