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Boustead Projects posts 15% drop in 3Q earnings to $6.8 mil despite revenue surge

Stanislaus Jude Chan
Stanislaus Jude Chan2/12/2019 11:34 PM GMT+08  • 2 min read
Boustead Projects posts 15% drop in 3Q earnings to $6.8 mil despite revenue surge
SINGAPORE (Feb 12): Real estate solutions specialist Boustead Projects saw its earnings fall 15% to $6.8 million for the 3Q19 ended December, from $8.0 million a year ago.
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SINGAPORE (Feb 12): Real estate solutions specialist Boustead Projects saw its earnings fall 15% to $6.8 million for the 3Q19 ended December, from $8.0 million a year ago.

3Q19 revenue jumped 70% to $81.3 million, from $47.9 million a year ago, on the back of higher design-and-build revenue.

Design-and-build revenue for 3Q19 was 85% higher at $73.8 million, with the healthy order book backlog carried forward at the end of FY18 contributing to stronger revenue conversion during the quarter. In particular, the group says there were two sizeable projects that provided significant revenue for 3Q19.

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