Boustead again to profitability in Q3

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KUALA LUMPUR: Boustead Holdings Bhd rebounded to report a web revenue of RM55.7 million in its third quarter ended Sept 30, 2021 from a web lack of RM51.8 million in the identical interval a yr earlier.

In a submitting with Bursa Malaysia right now, the group mentioned the advance was pushed by pushed by robust efficiency, notably from the plantation and pharmaceutical divisions.

In the meantime, income for the quarter elevated to RM3.68 billion from RM1.89 billion year-on-year.

For the nine-month interval, Boustead recorded a web revenue of RM91.5 million from a web lack of RM198.6 million, whereas income for the interval jumped to RM8.35 billion towards RM6.56 billion beforehand amid stronger efficiency in all divisions, notably plantation, pharmaceutical and buying and selling, finance and funding.

“The underside line was additionally bolstered by one-off beneficial properties on disposal of a lodge, Royale Chulan Bukit Bintang, and an funding property of RM84.6 million and RM13.1 million respectively,” mentioned Boustead.

Transferring ahead, the group mentioned it could stay steadfast in its efforts to strengthen its operational and monetary place pushed by the Reinventing Boustead technique.

It famous that below this technique, Boustead goals to speed up worth creation with efficiency enchancment programmes, faucet into new income sources, rationalise non-strategic property and enterprise into the expertise sector and digital companies. – Bernama



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