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Mainboard-listed Boustead Singapore has posted a net profit of S$43.1 million for the full year, down 28 percent from a year ago.
It also reported a 15-percent on-year drop in revenue to S$516.6 million.
According to Boustead, the decline in profit was largely attributed to a sale of an industrial asset, which is yet to be completed.
In December 2009, it announced a sale of an industrial leaseback asset worth S$67.8 million.
A significant reduction in the share of results from associates had also hit the bottomline.
Commenting on future prospects, Mr. Wong Fong Fui, CEO and chairman of Boustead Singapore, said that the firm has insignificant exposure to Europe and a strong order book, which will hold it in good position for the current fiscal year.
A final cash dividend of 2.5 cents per share has been proposed by the board. And a special dividend of 1.5 cents per share is also being proposed.