Boustead Q3 net profit down 36% despite revenue increase
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TECHNOLOGY and engineering group Boustead Singapore reported a 36 per cent fall in net profit to S$11.8 million from S$18.4 million a year ago, for its third quarter ended Dec 31, 2014.
This was in spite of a 37 per cent revenue increase to S$177.9 million from S$129.7 million a year ago.
The disparity was due to the completion of a large design-and-build project for the firm's real estate solutions arm, which had a very low margin.
Boustead closed trading on Thursday at S$1.805, up 0.5 cent, before the results were released.
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