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Lian Beng's Q2 earnings up 21%, despite revenue decline
LIAN Beng on Monday posted a 21.3 per cent increase in net profit to S$7.7 million for its second quarter ended Nov 30, 2018. Revenue fell 15.3 per cent to S$79.9 million.
The property developer and construction firm said that the revenue drop was mainly due to lower revenue from its property development segment, offset by an increase in revenue from the construction and investment holding segments.
Lower cost of sales helped to bolster earnings. Earnings per share rose to 1.55 Singapore cents as at Nov 30, 2018, from 1.28 Singapore cents a year ago.