Boustead Singapore Limited, listed on the SGX Mainboard, has announced a 48% increase in net profit for the financial year ending 31 March 2025. The rise to S$95.0m was primarily driven by a one-off gain from transferring its fund management business to UIB in exchange for shares. However, the Group’s revenue fell by 31% to S$527.1m, largely due to reduced income from its Real Estate Solutions and Energy Engineering divisions.
The Group’s engineering order backlog has improved, standing at approximately S$349m, compared to S$247m in the previous year. This includes S$126m from the Energy Engineering Division and S$223m from the Real Estate Solutions Division. Boustead’s Chairman and CEO, Wong Fong Fui, highlighted the Group’s resilience amidst global economic challenges, stating, “Despite another challenging year and the injection of greater global economic and geopolitical headwinds, our Group remained steadfast together, delivering a commendable set of financial results for FY2025.”
The Board has proposed a final ordinary dividend of 4.0 cents per share and a special dividend of 2.0 cents per share, subject to shareholder approval. This brings the total dividend for FY2025 to 7.5 cents per share, up from 5.5 cents in FY2024. Looking ahead, Boustead remains cautiously optimistic about delivering satisfactory results in FY2026, focusing on strengthening its balance sheet and exploring new opportunities.
