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Boustead
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Boustead on the move now
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Ipoh123
Senior |
28-May-2021 16:49
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Good dividend and strong uptrend. Yesterday sell down was for big boys to scoop at value price. | ||||
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tangsookiam1947
Master |
28-May-2021 16:47
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can someone share here if the CIMB report is out? many tks.
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yamseng
Supreme |
28-May-2021 16:25
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do not need new target price own time own target carries on !! |
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crystalbee
Veteran |
28-May-2021 15:46
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Will CIMB upgrade target price? Their target price set in March at $1.40 was based on FY21 Net Profit of $49.4mill. Excluding BP' s divestment gains, actual net profit is $44.6mill which is 10% lower. Seems missed profit target. Wonder what they will write...
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yamseng
Supreme |
28-May-2021 13:18
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relax la, hope to see more reports over the weekend plus more contracts announcement !! | ||||
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guards80
Supreme |
28-May-2021 13:18
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BP start to slowly push up liao. | ||||
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Ipoh123
Senior |
28-May-2021 12:19
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Sell down yesterday to shake off the weak ones... | ||||
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goodstocksonly
Member |
28-May-2021 10:44
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Maybe will only have big rise again in short term if CIMB updates TP. Otherwise maybe need hold longer again.
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oceanblue
Veteran |
28-May-2021 10:21
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Boustead finally wake up. The dividend helps I suppose. | ||||
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maxlim3
Member |
27-May-2021 22:12
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My bad. Cheers... 😉 The report outdated. Cos that was based on projected which is rather BS knowing the management. Anyway we now got the actual. So very easy to calculate. But normally this stock will lag due to the low trading volume and coverage. Their norm is to give around 30 plus percent as dividend. To hit 1.4 is also very hard even if it is super exceptional. Needs time. Then again i hope i am wrong cos i am vested.
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Corian99
Member |
27-May-2021 20:37
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Next analyst TP should be $1.60-$1.80 i dared say. Limitless upside
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crystalbee
Veteran |
27-May-2021 20:23
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Aiyoh....not me say one, from analyst report. They also just estimate if payout 50%, then special dividend 7 cents. I never use Dividend to ask readers to buy hoh. I just said maybe good results will see target price raised from $1.40 to $1.55.
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guards80
Supreme |
27-May-2021 20:07
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Boustead Singapore H2 net profit more than quadruples, proposes special dividendhttp://www.businesstimes.com.sg/companies-markets/boustead-singapore-h2-net-profit-more-than-quadruples-proposes-special-dividend |
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goodstocksonly
Member |
27-May-2021 19:39
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results out, 3+4 dividends as expected despite BP' s results. Tomorrow possibly hit 1.2? Key Milestones: &bull Record annual net profit surpassing S$100 million for the first time since listing. &bull Record annual cash dividend of 8 cents per share. FY2021 Highlights: &bull Overall revenue for FY2021 was 6% lower year-on-year at S$685.7 million, with the largest impact of the COVID-19 pandemic felt on the revenue performance of the Real Estate Division (Boustead Projects), although this was mostly buffered by significantly positive revenue performances at the Energy Engineering Division and Geospatial Division. &bull Despite the decline in overall revenue, total profit after tax but before non-controlling interests and net profit for FY2021 set new records and were 302% and 266% higher year-on-year at S$178.9 million and S$113.1 million respectively, greatly boosted by better profitability across the Real Estate Division (Boustead Projects), Energy Engineering Division and Geospatial Division, especially from the BIF Value Unlocking Gain. &bull For comparative review, after adjusting for other gains/losses net of non-controlling interests (mostly the BIF Value Unlocking Gain), one-off net gain from the sale of the water business, impairment losses, one-off legal settlements by Boustead Projects and payouts received from the JSS net of non-controlling interests, net profit for FY2021 would have been 23% higher year-on-year. &bull The Group&rsquo s current order backlog of S$447 million (unrecognised project revenue remaining at the end of FY2021 plus the total value of new orders secured since then) remains moderately healthy although lower compared to S$775 million disclosed in the FY2020 financial results announcement. In addition, the Geospatial Division had S$69 million in deferred services backlog remaining at the end of FY2021. &bull The Board of Directors has proposed a final ordinary dividend of 3 cents per share and a special dividend of 4 cents per share, for shareholders&rsquo approval. Taken along with the interim ordinary dividend of 1 cent per share already paid, the total dividend paid and proposed for FY2021 is 8 cents per share, compared to 3 cents per share for FY2020. Page 1 SINGAPORE, 27 MAY 2021 &ndash SGX Mainboard-listed Boustead Singapore Limited (&ldquo Boustead&rdquo or the &ldquo Group&rdquo ), a progressive global infrastructure-related engineering and technology group today announced its unaudited financial results for the second half and full-year ended 31 March 2021 (&ldquo 2H FY2021&rdquo and &ldquo FY2021&rdquo respectively). For 2H FY2021, overall revenue was 9% lower year-on-year at S$396.0 million, with the largest impact of the COVID-19 pandemic felt on the revenue performance of the Real Estate Division (Boustead Projects), although this was mostly buffered by significantly positive revenue performances at the Energy Engineering Division and Geospatial Division. Despite the decline in overall revenue, total profit after tax but before non-controlling interests and net profit for 2H FY2021 were 496% and 394% higher year-on-year at S$156.1 million and S$91.3 million respectively, greatly boosted by better profitability across the Real Estate Division (Boustead Projects), Energy Engineering Division and Geospatial Division, especially from Boustead Projects&rsquo successful launch of BIF. The BIF Value Unlocking Gain amounted to S$134.8 million and was recorded following Boustead Projects&rsquo sale of interests in 14 leasehold properties to BIF &ndash full disposal of 11 properties and partial disposal of equity interests in a subsidiary and two joint ventures &ndash selected from Boustead Projects&rsquo portfolio of 25 leasehold properties. For FY2021, overall revenue was 6% lower year-on-year at S$685.7 million, mainly due to the same reasons mentioned earlier for 2H FY2021. Despite the decline in overall revenue, total profit after tax but before non-controlling interests and net profit for FY2021 set new records &ndash surpassing the S$100 million mark for the first time &ndash and were 302% and 266% higher year-on-year at S$178.9 million and S$113.1 million respectively, due to the same reasons mentioned earlier for 2H FY2021, especially from the BIF Value Unlocking Gain. For comparative review, after adjusting for other gains/losses net of non-controlling interests (mostly the BIF Value Unlocking Gain), one-off net gain from the sale of the water business, impairment losses, one-off legal settlements by Boustead Projects and payouts received from the JSS net of non- controlling interests, net profit for FY2021 would have been 23% higher year-on-year. In light of the BIF Value Unlocking Gain and subsequent special dividend proposed by the Boustead Projects Board, along with the Group&rsquo s improved profitability from core businesses and strong cash position, the Board of Directors has proposed a final ordinary dividend of 3 cents per share and a special dividend of 4 cents per share, for shareholders&rsquo approval. Taken along with the interim ordinary dividend of 1 cent per share already paid, the total dividend paid and proposed for FY2021 is 8 cents per share, compared to 3 cents per share for FY2020. Mr Wong Fong Fui, Chairman and Group Chief Executive Officer of Boustead said, &ldquo We resiliently weathered a challenging global landscape in FY2021, breaking several records along the way including revenue records at our Energy Engineering Division and Geospatial Division, and profit records for the Boustead Group, Real Estate Division and Geospatial Division. With astute leadership, hard work behind the scenes and some good fortune, our divisions entered FY2021 with sizeable order backlogs that helped to generate reasonable levels of revenue.&rdquo Mr Wong added, &ldquo While facing the most challenging period in our history at Boustead Projects, the team successfully launched the Boustead Industrial Fund, our maiden property trust which has helped to transform Boustead Projects&rsquo business model and integrate all parts of the industrial real estate value chain. The value unlocked by Boustead Industrial Fund was highly anticipated by shareholders at both Boustead Singapore and Boustead Projects but came at a time when most would have expected further delays, a strong indication of the quality of the team. Acknowledgement also should go to our teams at the Energy Engineering Division, Geospatial Division and Boustead Projects for credible performances under difficult conditions.&rdquo Mr Wong concluded, &ldquo We entered FY2022 with a moderately healthy but much lower order backlog and expect the COVID-19 pandemic to continue to pose severe uncertainties in the short-term. Following Boustead Industrial Fund, we have strengthened our already healthy balance sheet and net cash position, and with a moderately healthy order backlog and wide range of available financing options, maintain a stable position to weather the highly challenging global landscape. We will continue to Page 2 review and apply strict cost management measures and a cautious, prudent and risk-managed approach to capital allocation decisions. Even though Boustead Projects will unlock further value with the Boustead Industrial Fund at a much slower pace and spread out over a number of years in the future and even with the additional impact of the ongoing pandemic on business development activities, we expect to remain profitable for FY2022.&rdquo Supported by a record order backlog carried over from the end of FY2020, the Energy Engineering Division displayed a resilient revenue performance for FY2021 &ndash in contrast to the general downturn in the global oil & gas industries &ndash to achieve record revenue that was 37% higher year-on-year at S$198.4 million. This accounted for only nine months of revenue from the water business under the division, as the water business was sold in December 2020. Significantly impacted by the pandemic and four months of closure of Singapore project sites, gradual phased resumption of construction activities in the built environment sector and lower productivity due to stricter safe management measures and lack of worker availability, the Real Estate Division (Boustead Projects)&rsquo s revenue was 29% lower year-on-year at S$301.4 million. The impact was highly visible on engineering & construction segment (formerly known as design-and-build segment) revenue, partially mitigated by better real estate segment revenue. New enterprise agreements and firm demand for geospatial technology and smart mapping capabilities across Australia and South East Asia underpinned the Geospatial Division&rsquo s record revenue performance, which was 24% higher year-on-year at S$170.4 million and extended the division&rsquo s revenue record-breaking streak to the fourth successive year. Partially impacted by the pandemic, the Healthcare Division&rsquo s revenue was 16% lower year-on-year at S$15.2 million, with most clients focusing more attention towards addressing the pandemic, resulting in delays in orders and the provision of services in rehabilitation. The Group&rsquo s overall gross profit for FY2021 increased 4% year-on-year to S$173.6 million, with the overall gross margin strengthening to 25% compared to 23% in FY2020. Nonetheless, Boustead Projects faced unprecedented gross margin pressure after suffering at least four months of delay per Singapore project, compounded by unprecedented pandemic-related costs and a lower quantum of cost savings from previously completed projects. PBT for FY2021 climbed 224% year-on-year to S$204.3 million, mainly attributable to the BIF Value Unlocking Gain, better overall gross margins, effective cost management measures, lower impairment losses, lower finance expenses, share of profit of associated companies and joint ventures, and payouts received from the JSS, as mentioned earlier. Except for the Healthcare Division, PBT for FY2021 across all of the other divisions saw significant improvements, led by the Energy Engineering Division&rsquo s and Geospatial Division&rsquo s stronger core business performances and the Real Estate Division (Boustead Projects)&rsquo s BIF Value Unlocking Gain. The Group&rsquo s net asset value per share rose to 92.3 cents at the end of FY2021 from 70.3 cents at the end of FY2020. The net cash position (i.e. net of all bank borrowings) was boosted to S$472.8 million at the end of FY2021, translating to a net cash per share position of 97.7 cents. In addition, the Group held S$38.0 million in investment securities at the end of FY2021, of which about 20% of the amount is highly liquid. In FY2021, the Group had been awarded approximately S$230 million in new contracts, with extremely challenging conditions and global travel restrictions, making it difficult to conduct meaningful business development activities. The current order backlog of S$447 million (unrecognised project revenue remaining at the end of FY2021 plus the total value of new orders secured since then) &ndash of which S$96 million is under the Energy Engineering Division and S$351 million is under the Real Estate Division &ndash remains moderately healthy although significantly lower compared to S$775 million disclosed in the FY2020 financial results announcement. In addition, the Geospatial Division had S$69 million in deferred services backlog remaining at the end of FY2021. -- END OF MEDIA RELEASE --
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maxlim3
Member |
27-May-2021 19:22
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From the divestment, Boustead how to give 7c for special dividend? 4 to maybe 5 is the max. Plus 2 c dividend feom normal. If really solid result, maybe give 3. My back of the envelop calculation. Take it with lots of salt.
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Corian99
Member |
27-May-2021 19:18
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This is the biggest part. Honestly Boustead just needs to take a few good acquisition and the upside will be even greater. Which counter is backed by 90%+ of it' s market cap with net cash? Fully expect recovery tomorrow and onward to a higher updated target price.
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yamseng
Supreme |
27-May-2021 19:13
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today Kena cornered, hope tmr can fly past 113 to hit 120 |
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ichiban
Member |
27-May-2021 18:35
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dvd...3 cents sd....4cents |
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guards80
Supreme |
27-May-2021 18:32
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BP still alot dividend that why today price close flat never drop much | ||||
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sgtrade
Senior |
27-May-2021 18:28
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3 cent final n 4 cent special dividend total 7 cent . Nav increased to $0.923
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