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Boustead Projects 4Q earnings more than double to $14.3 mil

PC Lee
PC Lee5/22/2017 05:50 PM GMT+08  • 2 min read
Boustead Projects 4Q earnings more than double to $14.3 mil
SINGAPORE (May 22): Boustead Projects, the specialist in real-estate solutions, reported 4Q earnings more than doubled to $14.3 million from $5.4 million a year ago.
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SINGAPORE (May 22): Boustead Projects, the specialist in real-estate solutions, reported 4Q earnings more than doubled to $14.3 million from $5.4 million a year ago.

The increase was mainly higher other gains, primarily the non-recurring compensation from the early termination of the AusGroup lease as well as the gain from the sale of the BP Group’s interest in TripleOne Somerset, but partially offset by an impairment loss on an investment property.

Revenue for the three months ended March fell 35% to $38.5 million due to lower revenue contributions from both the design-and-build and leasing businesses.

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