Boustead Singapore - OCBC Investment Research 2025-11-11: Steady Trudge

• Boustead (SGX:F9D)'s 1HFY26 revenue nudged down 0.4% y-o-y to S$294.0m, constituting 50.1% of our initial full year forecast.

Underlying segmental performance was a mixed bag.

• - Read this at SGinvestors.io -
• Gross profit was 5.4% lower y-o-y at S$110.3m; while this translates to a compression of margins from 44.3% in FY25 to 37.5% currently, this is still higher as compared to the 29.5% achieved in FY24.

An overallin-line set of results

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• Boustead has declared an interim dividend of 1.5 Singapore cents per share, which is flat y-o-y and will be paid out on 1 Dec 2025.

Slightly higher Fair Value estimate of S$2.02

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Previous report by OCBC:
2025-09-19 Boustead Singapore - Proposed REIT Listing Taking Shape.

Price targets by other brokers at Boustead Target Prices.

Listing of research reports at Boustead Analyst Reports.

Relevant links:
Boustead Share Price History,
Boustead Announcements,
Boustead Dividend Payout Dates & Corporate Actions,
Boustead News