Boustead Singapore sees 42% increase in 2024 earnings to S$64.2 million

SINGAPORE (May 28): Boustead Singapore reported a net profit of S$64.2 million for the 2024 financial year ended March 31, 2024, up 42% year-on-year (y-o-y) compared to the same period last year before.

The group said that after accounting for residual gains/losses and impairments, net of non-controlling interests, its net profit would have been 101% higher year-on-year.

Boustead’s total revenue for the full year (FY2024) was S$767.6 million, up 37% year-on-year due to significantly higher revenue contributions from its Geospatial, Real Estate Solutions and Energy Engineering businesses.