Wolf Money(Boustead Singapore 1H FY2024 result)

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(If Cash machine has a name, it is call Boustead Singapore)


Boustead Singapore reported a 19% increase in net profit excluded one off. Revenue for the reported half year was up 49%. Almost all business units experience growth with the exception of healthcare. The company is purposing 1.5c dividend, payable on 1 Dec 2023. I find the result quite impressive given last year there was a $11m currency gain. The result was a 10% improvement if currency was taken into account. Net cash per share had risen to 79.5c per Boustead Singapore share which represents close to 93.5% of the current market capitalisation base on last traded price of 85c. 

The company had purposed an exit offer of $1.18 per share for Boustead Projects shareholders. Congratulations to the minority shareholders of Boustead Projects, your resolve had finally paid off. A resolution on the majority owner to accept the new exit offer needs to be voted by independent shareholders of Boustead Singapore. More detail at the end of the month portfolio update. Thank you. 


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All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for education only. Buyer beware,do you own due diligence.


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