SINGAPORE (May 23): Boustead Singapore, the infrastructure-related engineering services and geo-spatial technology group, reported an 18% rise in FY17 earnings to $33.3 million.
Full-year revenue came in 11% lower at $433.8 million. The severely depressed global oil & gas industries continued to adversely impact revenue at the Energy-Related Engineering Division, with revenue declining 25% year-on-year to $96.5 million.
In the face of a challenging and competitive business landscape, the Real Estate Solutions Division also registered revenue of $228.3 million, 11% lower mainly due to lower revenue contributions from both the design-and-build and leasing businesses.
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