Boustead profit up 43% to S$12.2m

The company said it achieved revenue of S$113.3 million or a 25% increase.

Boustead Singapore Limited announced that all of the significant core operating divisions achieved overall growth and profitability in 1Q FY2013.

“The Real Estate Solutions Division was the growth booster among the Group’s engineering divisions, achieving revenue of S$51.6 million and rising 83%. This was due to good progress on both new and existing projects,” said Boustead in a release.

The Energy-Related Engineering Division meanwhile witnessed a decline in revenue to S$24.6 million, a decrease of 11%. The fall was due to a delay in the commencement of a few major projects.

The Water & Wastewater Engineering Division, on the other hand, registered revenue of S$5.2 million, down by 39%. The decline was due to the completion of a major project by the end of the last financial year and a slowdown in securing new large projects.

Revenue from Geo-Spatial Technology rose to S$31.9 million, up 21%, amidst robust demand for geo-spatial software and solutions across key markets in Australia and South East Asia.