Boustead Singapore posts 45% rise in profit, thanks to gain on sale of assets
Boustead Singapore has registered a 45 per cent jump in first quarter net profit to $17.7 million.
Revenue for the three months to June 30 rose by 14 per cent to $128.7 million.
Gross profit declined by 5 per cent to $38.3 million, with profit margin falling to 30 per cent from 36 per cent in the same period last year.
The fall was mainly due to the challenging conditions in the industrial real estate market.