Home Capital Results

Lum Chang’s 1Q earnings fall 88% on higher cost of sales

PC Lee
PC Lee11/10/2016 06:23 PM GMT+08  • 1 min read
Lum Chang’s 1Q earnings fall 88% on higher cost of sales
SINGAPORE (Nov 10): Construction company Lum Chang saw 1Q earnings fall 88% to $995,000 from $8.5 million a year ago.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 10): Construction company Lum Chang saw 1Q earnings fall 88% to $995,000 from $8.5 million a year ago.

Revenue rose 13% to $102.3 million mainly due to the revenue recognition of two construction projects, which reported revenues amounting to $72 million. The increase in work performed for a construction project during the quarter also resulted in higher revenue of $9.7 million being recognised.

Cost of sales rose 22% to $93.3 million. Gross profit margin fell to 8.8% from 15.4% due to higher construction cost and lower property sales.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now