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Boustead Projects posts 5% drop in 3Q earnings to $8.01 mil

Samantha Chiew
Samantha Chiew2/12/2018 06:24 PM GMT+08  • 2 min read
Boustead Projects posts 5% drop in 3Q earnings to $8.01 mil
SINGAPORE (Feb 12): Boustead Projects announced 3Q18 earnings dropped 5% to $8.01 million, compared to $8.48 million in 3Q17.
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SINGAPORE (Feb 12): Boustead Projects announced 3Q18 earnings dropped 5% to $8.01 million, compared to $8.48 million in 3Q17.

This was mainly due to higher overhead expenses (selling and distribution expenses, and administrative expenses), partially offset by higher gross profit achieved through productivity improvements and the unlocking of project cost savings.

Revenue declined by 28% to $47.9 million from $66.6 million a year ago, due to lower revenue contributions from both the design-and-build and leasing businesses.

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