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Lian Beng posts 33.7% drop in 1H earnings to $12.2 mil on lower sales

Samantha Chiew
Samantha Chiew1/12/2018 06:03 PM GMT+08  • 2 min read
Lian Beng posts 33.7% drop in 1H earnings to $12.2 mil on lower sales
SINGAPORE (Jan 12): Lian Beng Group, the civil engineering firm and property developer, reported 1H18 earnings dropped 33.7% to $12.2 million compared to $18.4 million in 1H17.
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SINGAPORE (Jan 12): Lian Beng Group, the civil engineering firm and property developer, reported 1H18 earnings dropped 33.7% to $12.2 million compared to $18.4 million in 1H17.

The group’s revenue for the first half ended November declined by 27% to $87.6 million from $120 million a year ago, mainly due to the decrease in revenue generated from the construction segment.

Similarly, cost of sales was 24.9% lower at $68.1 million from $90.7 million last year.

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