SLB expects 'significant' rise in H1 profit; parent Lian Beng still weighed by construction challenges

Sharanya Pillai

Published Thu, Jan 6, 2022 · 06:27 PM

PROPERTY player SLB Development anticipates a "significant" year-on-year increase in net profit for H1 2022 ended November, the Catalist-listed company announced in a Thursday bourse filing.

This is mainly due to substantial sales of units in its projects, with contributions recognised as construction progressed.

The company's key projects in the past year include industrial building Inspace, and residential developments Affinity @ Serangoon and Riverfront Residences.

However, its parent company Lian Beng Group still expects its overall performance for the half-year to be lower than for the previous year. Its performance is weighed down by continued challenges for the construction business amid the pandemic.

Lian Beng will release its financial results on or before Jan 14. Its shares closed at S$0.545 on Thursday, up 0.93 per cent. SLB closed flat at S$0.12.