14 Feb '12, 12am

Boustead 3rd quarter 2012 result

Boustead 3rd quarter 2012 result

Net profit down 58% from the same time last year. This is attributed to the reduction in revenue from the Engineering Services Segment, due to the late start-up of projects in hand and an unexpected disruption in the supply chain caused by the catastrophic flooding at a subcontractor’s fabrication site in Thailand. However, the poor result was partly mitigated by a 14% increase in revenue from Geo-Spatial. In FY2011 there is a 67 mil sale of industrial leasehold property. This was absent in FY2012 Waster Water projects are under way and contribute increase profits as do the Geo Spatial Technology. Balance sheet in a pink of health. Net cash position fell from $184 mil cash to $151 mil cash. Net cash being 30% of assets. Free Cash Flow looks negative to me largely due to increases in investment properties. This is due to a $19 mil investment in an industrial leasehold prope...

Full article: http://www.investmentmoats.com/singapore-stocks/boustead-...

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