Boustead: Financial Results Announcement For FY2020 Ended 31 March 2020.

08 Jul 2020 10:33

For FY2020, revenue was 54% higher year-on-year at S$726.6 million. However, total profit and net profit were 10% and 5% lower year-on-year at S$44.5 million and S$30.9 million respectively, which in addition to the absence of a S$5.9 million pre-tax gain on the sale of 25 Changi North Rise registered in the previous comparative period, was mainly as a result of gross margin pressure, other losses largely due to fair value losses on investment securities, higher administrative, finance and income tax expenses, and impairment losses related to the end of legacy projects...

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