Lian Beng's H1 profit falls 13.2% despite revenue rise

LIAN Beng Group posted a half-year profit of $16.7 million, a 13.2 per cent decrease year-on-year as other operating income fell and expenses rose for the period ended Nov 30, 2013.

This fall in profit attributable to equity-holders comes despite a 39.6 per cent growth in revenue from $234.9 million to $328.1 million, driven by higher revenue that was recognised from the construction segment and the property development segment.

Even so, other operating income fell to $2.3 million from $6.1 million in the corresponding period a year ago. This was attributed to a decrease in dividend income received, among other things.