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Boustead Projects' 1Q earnings rise 73% to $10 mil on one-off gain

Michelle Zhu
Michelle Zhu8/12/2018 10:43 AM GMT+08  • 2 min read
Boustead Projects' 1Q earnings rise 73% to $10 mil on one-off gain
SINGAPORE (Aug 12): Boustead Projects has reported a 73% rise in 1QFY19 earnings to $10 million compared to $5.8 million a year ago, mainly boosted by a one-off gain from the sale of a property.  
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SINGAPORE (Aug 12): Boustead Projects has reported a 73% rise in 1QFY19 earnings to $10 million compared to $5.8 million a year ago, mainly boosted by a one-off gain from the sale of a property.

Revenue for the quarter under revenue was 7% higher y-o-y at $10 million due to higher design-and-build revenue, partially offset by lower leasing revenue.

Notably, the group booked a $5.9 million gain on the sale of 25 Changi North Rise, a design-build-and-lease building for anchor tenant UMS.

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