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Boustead Singapore's Q3 earnings fall 30%

Published on Feb 13, 2014 9:56 PM

Engineering services provider Boustead Singapore's third-quarter net profit slumped by 30 per cent to $18.4 million on the back of an 8 per cent drop in revenue to $129.7 million.

The results for the three months to Dec 31 included non-recurring items: $5.8 million gain on disposal of an available-for-sale investment and $3.3 million income tax refund.

After adjusting for such non-recurring items, the net profit would have been 7 per cent higher.

Likewise, net profit in the first nine months fell by 16 per cent to $45.2 million.

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