Boustead Singapore's H2 net profit rises 11% to S$18.5m

Singapore

MAINBOARD-LISTED Boustead Singapore has reported S$434.5 million in revenue for its second half, a 61-per-cent year-on-year increase.

However, its net profit climbed at a slower pace of 11 per cent to S$18.5 million - mainly due to gross margin pressure, other losses largely due to fair-value losses on investment securities, higher administrative, finance and income tax expenses, and impairment losses related to the end of legacy projects.