Lian Beng reports 9% rise in H1 profit to S$8.8m

Singapore-listed construction firm Lian Beng has posted a nine per cent increase in its first half net profit.

Net earnings for the six months ended November rose to S$8.8 million from S$8.1 million a year ago.

This was on the back of a 42 per cent jump in revenues to S$151 million on progress made in various construction projects.

Lian Beng said demand for construction services has softened amid the economic downturn.

But it expects overall construction activity to be supported by both private and public sector projects initiated last year.

Source : Channel NewsAsia – 13 Jan 2009

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