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Monday, 10 October 2011

Lian Beng’s 1QFY12 net profit grows 76% year-on-year to S$19.3 million

  • 1QFY12 revenue increased 21% year-on-year to S$135.8 million

  • Cash generative operations contributed to cash position of S$181.4 million as at 31 August 2011

  • Order book of S$761 million as at 31 August 2011 provides continuous flow of activities

SINGAPORE, 10 October 2011 – One of Singapore’s home-grown listed construction groups, Lian Beng Group (“Lian Beng” or “the Group”) (联明集团) reports a 76% increase year-on-year in net profit to S$19.3 million in 1QFY12 from S$11.0 million in 1QFY11 on the back of a 21% increase yearon- year in its 1QFY12 revenue to S$135.8 million from S$112.3 million.

Following a record set of results for FY2011 ended 31 May 2011, the Group achieved steady revenue contribution from its core construction segment, property development as well as ready-mixed concrete segments in 1QFY12.

The improvement in the Group’s net profit margin was also due to a one-time gain of S$7.9 million from the sale of its New Industrial Road investment property. Correspondingly, the Group’s net profit margin improved by 4.4 percentage points to 14.2% in 1QFY12 from 9.8% in 1QFY11.

Net cash generated from operating activities amounted to S$32.6 million during the quarter under review. On an operationally efficient and cash generative structure, the Group cash and cash equivalents stood at S$181.4 million as at 31 August 2011.

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