According to Lim, Boustead's stronger FY2025 was driven by margin expansion on effective cost management and an exceptional gain of $29 million from the transfer of Boustead’s fund and property management businesses to Unified Industrial.
Boustead Singapore's share price has gained by a fifth in less than a month, driven by a combination of stronger FY2025 earnings plus announcements by the company to unlock value for shareholders.
Despite this showing, Ada Lim of OCBC Investment Research sees further upside, as she kept her "buy" call and raised her fair value from $1.46 to $1.63 in her June 25 note.
