Lian Beng's Q2 net profit down 75%

Singapore

CONSTRUCTION firm Lian Beng Group posted a 75 per cent drop in net profit for the second quarter ended November 2016 to S$5.72 million on the back of a 62 per cent decline in revenue to S$49.22 million from a year ago.

For the half year period, net profit slipped 67 per cent to S$18.4 million on the back of a 55 per cent drop in revenue to S$120 million mainly due to lower revenue generated from the construction segment and ready-mixed concrete segment.