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Boustead Singapore's Q1 net profit drops 9% on lower one-off gains

Published on Aug 13, 2014 10:02 PM

SINGAPORE - A fall in one-off gains led to a decline in engineering and technology group Boustead Singapore's earnings.

Net profit in the first quarter dropped 9 per cent to $16.1 million as it logged a lower non-recurring other gains in the three months to June 30.

Other gains came in at $3.3 million, compared with $7.7 million in the same period a year ago.

The firm said that after adjusting for the non-recurring other gains, its net profit would have been 29 per cent higher.

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