Lian Beng's Q4 net profit down 43.9%

Singapore

LIAN Beng Group's Q4 net profit fell 43.9 per cent to S$30.4 million from the previous year, the group said in a Singapore Exchange filing on Wednesday evening. This was on the back of revenue plunging 55.8 per cent to S$78.3 million for the three months ended May 31.

For the full-year period, net profit dipped 4.7 per cent to S$102.9 million, while revenue dropped 40.4 per cent to S$445.4 million. This was mainly due to decreases in revenue from the construction and ready- mixed concrete segments as a result of the slowdown in private-sector construction demand. Gross profit fell 29.3 per cent to S$56.1 million.