Boustead posts 76% net profit jump in H1

Uploaded By:  Kevin Santos Submitted By:  Staff Reporter Case Study:  No Revenue dipped 1% despite the pandemic's different effects on each division. Boustead Singapore reported a 76% jump in H1 net profit to $21.8m for FY2021, on the back of better gross margins, cost-cutting measures, lower financial expenses and grants received from the Jobs Support Scheme (JSS), according to an announcement. Revenue dipped 1% to $289.7m from $292.1m in H1 FY2020 due to the pandemic’s impact on overall revenue performance despite a high variability of the effect in the performance of each division. read more