Boustead Singapore net profit soars 58% to $59.1m in H2

This comes amidst a 42% revenue decline.

Boustead Singapore posted a 58% jump in net profit to $59.1m for the second half ended 31 March 2025 (2H FY2025).

The group said it was driven by a one-off $29.0m gain from transferring Boustead Projects’ fund management business to UIB1. This gain, along with lower tax expenses, offset weaker performance across key divisions.

However, revenue for the period fell 42% year-on-year to $231.9m, mainly due to lower contributions from the Real Estate Solutions and Energy Engineering divisions, following a smaller order backlog at the end of FY2024.

For the full year (FY2025), revenue declined 31% to $527.1m.

Still, net profit rose 48% to $95.0m, supported by the same one-off gain and tax savings. After adjusting for exceptional items, full-year net profit was up 8% YoY.