Lian Beng's Q2 net profit falls 43% on higher costs

Singapore

CONSTRUCTION cum developer group Lian Beng on Friday said its net profit fell 43.2 per cent to S$3.2 million for its second quarter ended Nov 30, 2017, due to higher cost of sales and higher distribution expenses and finance costs.

For the quarter, revenue rose 2.5 per cent to S$50.5 million. Cumulatively, its revenue for the first six months of its fiscal year fell 27 per cent to S$87.6 million, due to lower contribution from the construction segment.