Corporate digest

Lian Beng

LIAN Beng turned in 55.3 per cent lower profit of S$3.6 million for the quarter ended February as it was hit by higher cost of sales and a S$3.1 million loss from its associates and joint ventures. These hit the firm's bottom line, which was S$8.1 million (restated) in the preceding year.

Its financial results for the third quarter of fiscal year 2019, released on Friday, saw cost of sales go up 6.5 per cent year-on-year to S$70.1 million, mainly due to an increase in construction cost.