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New reporting standards sink SLB's Q1 results
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Annabeth Leow
Published Fri, Oct 12, 2018 · 09:50 PM
Singapore
NEW reporting standards torpedoed SLB Development's first-quarter earnings, as it must now recognise project contributions progressively.
The Catalist-listed property developer - a spinoff from Lian Beng Group - was S$2.79 million in the red for the three months to Aug 31, against a net profit of S$3.65 million the previous year, according to unaudited results released on Friday.
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