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Lian Beng Q2 net profit drops 75%

LIAN Beng Group posted a 75 per cent drop in net profit for the second quarter ended November 2016 to S$5.72 million, from S$22.87 million.

Revenue fell 62 per cent to S$49.22 million from some S$130 million.

Earnings per share for the period under review came in lower at 1.14 Singapore cents, from 4.53 Singapore cents a year ago.

The company declared a tax-exempt interim cash dividend per share of one Singapore cent, the same as the previous year.

The counter closed unchanged on Wednesday at 48 Singapore cents.

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