Boustead Projects net profit dipped 19% to $4.8m in Q1

Due to higher finance expenses.

Boustead Projects reported that its net profit dipped 19% year-on-year to $4.8m in the first quarter, dragged by higher finance expenses.

After adjusting for other unrealised currency losses, net profit for 1Q FY2016 would be 7% lower than in the first quarter. Design-and-build gross profit declined as expected in line with the challenging and competitive industrial real estate market in Singapore, which placed additional pressure on margins. 

However, the decrease in design-and-build gross profit was mostly cushioned by the improvement in leasing gross profit.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!