Lian Beng's Q1 profit slumps 60.8%

Singapore

HIGHER unrealised exchange loss, impairment loss on Centurion Corp shares and lower contributions from its associates and joint ventures (JVs) led construction group Lian Beng to report steep declines in its fiscal first-quarter top and bottom lines.

Lian Beng on Thursday reported a 60.8 per cent slump in net profit to S$12.7 million for the three months ended Aug 31, 2016. This compared with a net profit of S$32.3 million a year ago.