Lian Beng Q1 net profit surges 59% to S$11.97m

Singapore

LIAN Beng Group enjoyed a 58.5 per cent surge in net profit to S$11.97 million for its fiscal first quarter ended Aug 31, on the back of strong construction orders previously clinched.

Group revenue rose 10.8 per cent to S$167.64 million over the same period, due mainly to an increase in revenue generated from the construction segment and workers' dormitory business, which more than offset the decrease in revenue in the ready-mixed concrete segment.