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Boustead's net profit tumbled 30% to $17.9m in Q4

Singapore Business Review

Due to lower revenue across the board.

Boustead Singapore reported that its net profit dipped 30% year-on-year to $17.9m in the fourth quarter.

The decline was driven by lower revenue in all its business segments, particularly energy-related engineering, real estate solutions, and geo-spatial technology. Its Q4 revenue declined 14% year-on-year to $17.9m.

On a full-year basis, the group's net profit slipped 10% to $63.3m. This decline was due to non-recurring gains booked in the previous financial year.



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