Boustead Singapore profit and revenue fall on FX losses, oil & gas recession
Singapore
FOREIGN exchange losses and the continued global oil and gas recession dampened mainboard-listed Boustead Singapore's performance in FY2018, with net profit falling 24 per cent to S$25.39 million and revenue dipping 5 per cent to S$414.1 million.
Energy-related engineering revenue was weighed down by delays in major expenditures by clients, and posted a 2 per cent decline to S$94.9 million. Meanwhile, real estate solutions revenue decreased by 12 per cent to S$201.3 million amid headwinds in the industrial real estate sector.
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