Shares & Derivatives
Boustead – FY 2008 Financials Review and Discussion Part 1
By Musicwhiz  •  July 14, 2008
By: musicwhiz boustead.bmpI guess this was long overdue, but a review and analysis of Boustead should not be done in a hurry anyway. The company is slowly and steadily growing its business and its order book, and the CEO has expressed optimism recently that a turnaround can be expected in the water and wastewater division. I will be analysing the P&L, Balance Sheet, Cash Flow Statement as well as commenting on Boustead’s 3 main divisions (not counting ESRI which does geo-spatial – I will touch briefly on this) for Part 1. Part 2 will analyze and comment on the segmental business units for Boustead and their performance and prospects. Part 3 will touch on the future – how Boustead has progressed thus far in FY 2009, the direction each division is taking, as well as future endeavours that the company is planning to make (from FF Wong’s interview in Pulses magazine as well as his audiocast replies). Profit and Loss Review If one takes a close look at the Income Statement, revenues for FY 2008 had increased 27.5% compared to FY 2007, while COGS had increased by 33.5%. As a result, gross margin dropped from 34.1% in FY 2007 to 31.0% in FY 2008. Read more...
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By Musicwhiz
Musicwhiz who is in his 30s is educated in accounting and works in the investment line (but not in a bank, financial institution, brokerage or fund house). He has a have a full-time job and investing is his side-line as well as passion. Musicwhiz is a value investor and his technique is derived from the teachings of Warren Buffett, Benjamin Graham and Phil Fisher. He incorporate all aspects of their investing style, and modify his value investing style to the Singapore market.

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