Boustead is a company that is in my watchlist. Its in a net cash position, pays a safe 5-6% yield, diversified into 4 segments, energy related, water and waste water, industrial property and geo-spatial.
If you like PEC, Hyflux, AREIT and Google Map roll into one, you will like Boustead.
They just announced their 3rd quarter results so I thought I will break down some of the finer points.
- 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 ...
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