Boustead Projects Q4 earnings slip 2% to S$5.7m on weaker margins

REAL estate player Boustead Projects saw earnings fall 2 per cent year-on-year to S$5.7 million for the fourth quarter ended March, amid weaker gross margins in its core design-and-build segment, coupled with depreciation costs for its Alice@Mediapolis project.

Specifically, one sizeable project under a deferred payment arrangement contributed significantly to the revenue increase, the company said on Thursday. Meanwhile, revenue from the real estate segment was flat at S$7.3 million. The company's rise in topline for its latest results was supported partly by a restatement of its 4QFY2018 revenue to S$46.2 million and a restatement of FY2018 revenue to S$169.6 million .

Boustead's order book remains resilient, with S$633 million worth of contracts secured in FY2019. The firm's order book backlog - comprising unrecognised project revenue as at end-March and new orders - stands at S$660 million. This includes contracts for the JTC Multi-Storey Recycling Facility and Surbana Jurong Campus.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SIA's Q4 earnings down 28%, full-year gain slumps 47%; airline sees fuel costs headwindsSINGAPORE Airlines capped fiscal 2019 with a 28 per cent fall in fourth-quarter bottom line earnings to S$202.6 million from S$281 million a year ago, on the back of lower operating profit and higher non-operating costs related to SilkAir's refleeting and restructuring. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Seoul: Stocks slip on widening Sino-US tension[SEOUL] South Korea's KOSPI stock index fell on Thursday on growing anxiety over the Sino-US conflicts involving Huawei Technologies, with the spillover impact dragging on a South Korean telecom operator. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Jason Marine full-year earnings soar to S$191,000 on forex movementsJASON Marine Group saw FY2019 revenue dip 8.4 per cent to S$29 million for the year ended March, due to weak demand for its goods in the marine and oil and gas industries, the company announced on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »