Financial Statements and Related Announcement::Half Yearly Results

0

Corporate Profile

Established in 1828, Boustead Singapore Limited (SGX:F9D) is a progressive global Infrastructure-Related Engineering and Technology Group listed on the SGX Mainboard.

Focusing on the niche engineering and development of key infrastructure to support sustainable shared socio-economic growth in global markets, our strong suite of engineering services under our Energy Engineering Division and Real Estate Division centres on energy infrastructure and smart, eco-sustainable and future-ready business park and industrial developments.

In addition, we provide technology-driven transformative solutions to improve quality of life for all walks of life. Our Geospatial Division provides professional services and exclusively distributes Esri ArcGIS technology - the world's leading geographic information system, smart mapping and location analytics platform - to major markets in the Asia Pacific. The software creates digital infrastructure solutions and digital twins that enable smart nations, smart cities and smart communities to solve the world's most complex problems through effective and sustainable improvement of human wellbeing and ecosystems, and planning and management of key infrastructure and resources. Our Healthcare Division provides innovative medical solutions that address niche age-related chronic diseases and mobility issues, with a focus on rehabilitative care and sports science in the Asia Pacific.

With a vast global network stretching across Asia, Australia, Europe, Africa and the Americas, we are ready to serve the world. To date, we have undertaken projects in 90 countries and territories globally.

In 2008 and 2009, we were recognised in the prestigious Forbes Asia 200 Best Under A Billion as one of the Asia Pacific's 200 best public-listed corporations under US$1 billion in revenue. In 2017, we were ranked by FinanceAsia as Singapore's Best Small-Cap in the annual Asia's Best Companies Poll. In 2019, we were awarded the Most Transparent Company in the Industrials Category and Sustainability Award (Runner-Up) in the Mid Cap Category by the Securities Investors Association (Singapore). For the second successive year in 2021, we were ranked among Singapore's Best Employers, at 40th overall and 1st under our respective category of Business Services & Supplies (including Real Estate) in an evaluation encompassing 1,700 large corporations. We are also listed on the MSCI World Micro Cap Index, FTSE Global Small Cap Index, FTSE Developed Small Cap Index and FTSE ST Industrials Index.

Visit us atwww.boustead.sg.

1

BOUSTEAD SINGAPORE LIMITED

(Incorporated in Singapore. Registration Number 197501036K)

AND ITS SUBSIDIARIES

CONDENSED INTERIM FINANCIAL STATEMENTS

For the six months financial period ended 30 September 2021

Contents

		Page
A	Condensed Interim Consolidated Income Statement	3
B	Condensed Interim Consolidated Statement of Comprehensive Income	4
C	Condensed Interim Statements of Financial Position - Group and Company	5
D	Condensed Interim Statements of Changes in Equity - Group and Company	6
E	Condensed Interim Consolidated Statement of Cash Flows	9
F	Notes to the Condensed Interim Financial Statements	11
G	Other Information Required by Listing Rule Appendix 7.2	26

2

BOUSTEAD SINGAPORE LIMITED

1. CONDENSED INTERIM CONSOLIDATED INCOME STATEMENT For the six months financial period ended 30 September 2021

			6 months ended
		Note	30 Sep 2021	30 Sep 2020	Inc/(Dcr)
			$'000	$'000	%
Revenue	4	340,321	289,664	17%
Cost of sales		(259,786)	(203,090)	28%
Gross profit		80,535	86,574	-7%
Other income	5	4,143	2,482	67%
Other gains/(losses) - net	6	4,117	(5,886)	NM
Impairment loss on financial assets and contract assets		(816)	-	NM
Expenses		(22,309)
-	Selling and distribution		(19,051)	17%
-	Administrative		(31,266)	(30,180)	4%
-	Finance		(931)	(2,014)	-54%
Share of profit/(loss) of associates and joint ventures		1,965	(94)	NM
Profit before income tax		35,438	31,831	11%
Income tax expense	7	(9,586)	(9,048)	6%
Total profit		25,852	22,783	13%
Profit attributable to:		21,307
Equity holders of the Company		21,811	-2%
Non-controlling interests		4,545	972	368%
			25,852	22,783	13%
Earnings per share for profit attributable to equity holders
	of the Company (cents per share)
- Basic	15	4.4	4.5
- Diluted	15	4.4	4.5
NM - not meaningful

3

BOUSTEAD SINGAPORE LIMITED

1. CONDENSED INTERIM CONSOLIDATED COMPREHENSIVE INCOME For the six months financial period ended 30 September 2021

		6 months ended
		30 Sep 2021	30 Sep 2020	Inc/(Dcr)
		$'000	$'000	%
Total profit	25,852	22,783	13%
Other comprehensive (loss)/income:
Items that may be reclassified subsequently to profit or loss:
Share of other comprehensive loss of associates	(12)	-	NM
Currency translation differences arising from consolidation	(3,014)	3,666	NM
Items that will not be reclassified subsequently to profit or loss:
Non-controlling interests' share of currency translation differences	(112)
arising from consolidation	442	NM
Other comprehensive (loss)/income, net of tax	(3,138)	4,108	NM
Total comprehensive income	22,714	26,891	-16%
Total comprehensive income attributable to:
Equity holders of the Company	18,287	25,477	-28%
Non-controlling interests	4,427	1,414	213%
		22,714	26,891	-16%

NM - not meaningful

4