Boustead Projects’ 2Q earnings rise 33% to $7.3 mil

SINGAPORE (Nov 10): Boustead Projects, the industrial real-estate solutions provider, saw a 33% rise in 2Q17 earnings to $7.3 million, or 2.3 cents a share, from a year ago on higher revenue and lower finance costs.

For the three months ended Sept 30, revenue increased 16% to $62.2 million, thanks to stronger contribution from the design-and-build business.

Design-and-build revenue hit $53.9 million, 19% higher from a year ago due to revenue contributions from a greater number of ongoing design-and-build projects. Leasing revenue marginally declined to $8.3 million due to the expiry of some leases.

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