Lian Beng posts record profit, higher dividends
Revenue jumps on rise in property development sales
BOOSTED by record revenue and higher gross margin, construction group Lian Beng's full-year net profit attributable to shareholders surged 19.4 per cent to a high of S$87.1 million.
The 12 months ended May 31 registered a 49.1 per cent jump in revenue to S$753.9 million. This was driven by a steep increase in property development turnover, thanks to healthy sales at its developments. Gross profit shot up 118.5 per cent to S$142.1 million.
"Property development sales topped S$199.5 million as a result of the full recognition of revenue from the fully-sold 55 per cent-owned industrial property development M-Space, as well as the sales from development projects: The Midtown and Midtown Re…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Chinese knockoff raid jolts a global throng of fake-fashion influencers
Singapore-based Amazon execs feel the brunt of job cuts
MPACT posts 1.8% higher Q4 DPU of S$0.0229
Stocks to watch: MPACT, CapitaLand Ascott Trust, Hotel Properties, OUE Reit, CLCT
CapitaLand China Trust posts 7.7% drop in Q1 NPI to 313.1 million yuan
Apparel company Express seeks quick bankruptcy sale