Boustead Singapore’s FY2008 profit up 46% to S$51.5m

Infrastructure company, Boustead Singapore, said its FY2008 net profit rose 46 percent to S$51.5 million, while its revenue rose about 28 percent to S$438 million – the sixth straight year of record profits and revenues.

Boustead said its better showing was due to the buoyant environment and strong global demand for infrastructure projects in developing nations.

Three of its four divisions performed well, especially the real estate solutions division. The water and wastewater engineering division, however, continued to drag.

Going forward, the outlook appears bright.

Boustead has a current order book exceeding S$500 million and the company said it is poised to improve on its record financial performance for the current financial year even though performance varies from quarter to quarter, given the nature of the group’s businesses.

The firm’s board has proposed a final cash dividend of 5 cents per ordinary share and a special cash dividend of 2 cents per ordinary share.

Source : Channel NewsAsia – 28 May 2008

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