As at end-September, the company’s order backlog grew to $452 million following a major contract win that’s worth around $300 million.
CGS-CIMB Research analyst Ong Khang Chuen is keeping his “add” call on Boustead Projects after the company reported earnings of $7.7 million for the 1HFY2023 ended Sept 30, 30% higher y-o-y.
Based on Ong’s estimates, Boustead Projects’ half-year earnings stood above his expectations at 65% of his full-year forecast.
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