{
  "id": 19331436,
  "title": "Boustead H1 profit down 10% at S$31.5 million despite revenue increase",
  "url": "https://urgent.news/2026/11/10/boustead-h1-profit-down-10-at-s-31-5-million-despite-revenue-increase-19331436",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-10T12:09:49.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/boustead-h1-profit-down-10-s31-5-million-despite-revenue-increase"
  },
  "original_language": "en",
  "account": "Boustead Singapore, an engineering and technology group, reported a 10% decrease in net profit to S$31.5 million in its first half, even as revenue surged 38% to S$406.6 million. The drop in earnings was primarily due to a lower gross profit margin and a higher effective income tax rate. The company also cited a dilution of shareholdings in UIB Holdings, an associate of subsidiary Boustead Projects, resulting in a S$8.4 million reversal of share of net asset value. Earnings per share for the half were S$0.062, down from S$0.071 in the previous period. Boustead's chairman and group CEO, Wong Fong Fui, acknowledged navigating a challenging global environment and highlighted the group's engineering order backlog of S$720 million, with significant contributions from the energy engineering and real estate solutions divisions. The board declared an interim cash dividend of S$0.02 per share, an increase from the previous year.",
  "summary": "Company attributes drop in earnings to lower gross profit margin and higher effective income tax rate",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}