Mainboard-listed Boustead Singapore has posted a net loss of S$1 million in the fourth quarter ended 31 March 2011, attributed to provisions made for two projects in Libya after the outbreak of civil unrest.
Meanwhile, Q4 revenue increased eight percent to S$110.1 million.
In terms of full year results, the company’s net profit attributable to owners climbed 21 percent to S$52.2 million on the back of a 28 percent increase in revenue to S$560.6 million.
Boustead’s real estate division was the highest revenue contributor for the group, recording a year-on-year growth of 61 percent to S$295.7 million.
Revenue growth, on the other hand, was fuelled by the industrial property solutions business, which completed the sale of IBM Singapore Technology Park for S$67.8 million, as well as two nearly completed projects valued at around S$148 million.
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