Lian Beng reports full-year profit of S$24m

Homegrown building construction company Lian Beng has reported a profit of S$24 million for the full year ended May.

This was a 41.3 per cent increase compared to the same period a year ago.

The company said this was driven by strong performance across the construction, property development and ready-mixed concrete divisions.

Revenue for the year stood in at S$345.7 million, a 12.1 per cent increase year-on-year.

In view of its strong performance, the Group is declaring a first and final cash dividend of 0.4 cent per share, and a special dividend of 0.4 cent per share.

Together, this represents a dividend payout ratio of 17 per cent.

Looking ahead, Managing Director Ong Pang Aik said that with local demand expected to remain robust, the company will continue to pursue tender opportunities in both the private and public sectors.

He added that the upturn in Singapore’s economic fundamentals should bode well for the domestic construction sector, with demand from both private and public sectors expected to remain favourable over the next few years.

Source : Channel NewsAsia – 28 Jul 2010

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