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Lian Beng Q1 net falls 30.9%

Bottom line hit by hike in cost of sales, lower other operating income

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"The strong revenue growth augurs well as we enter the new financial year," said Ong Pang Aik, executive chairman at Lian Beng - PHOTO: LIAN BENG GROUP

CONSTRUCTION company Lian Beng reported a 30.9 per cent fall in first quarter earnings to $7.3 million, as higher costs incurred in relation to property sales and lower other operating income took their toll on earnings. The profit attributable to equity-holders for the three months ended Aug 31