SINGAPORE (Aug 7): Boustead Projects reported 1QFY20 earnings of S$4.7 million, 53% lower compared with S$10 million in 1Q19, on absence of one-off gains from sale of its 25 Changi North Rise industrial building in FY19.

Earnings for 1QFY20 was also affected by lower margins from current projects and a lower quantum of cost savings from previously-completed projects.

This was despite a 59% increase in revenue to S$62.4 million, from S$39.2 million a year ago, driven by revenue increases from the group’s Design-and-Build, and Real Estate business segments.

Revenue from its Design-and-Build segment increased by...(click on link for full story on theedgesingapore.com)