Lian Beng Q1 net falls 30.9%

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 compares with $10.5 million a year ago.

Earnings per share fell accordingly to 1.37 cents, from 1.98 cents last year.