Lian Beng’s full year profit up 43% to S$17m

Mainboard-listed construction firm Lian Beng Group said Wednesday its full year net earnings rose 43 per cent from a year earlier to S$17 million.

This was on the back of a 58 per cent jump in revenue to S$308.4 million for the financial year ended May.

Lian Beng said its business activity level remained high despite generally softer market conditions.

The company secured five construction projects worth around S$285 million during the year.

Looking ahead, the firm said it expects the construction industry to enjoy sustained activities in the medium term.

Lian Beng said it currently has an order book of around S$516 million, which should ensure a steady flow of activity through the 2011 financial year.

Source : Channel NewsAsia – 29 Jul 2009

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