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Wednesday, 23 July 2014

Lian Beng posts record profit, higher dividends

CONSTRUCTION company Lian Beng on Wednesday posted a record net profit to shareholders of S$87.1 million for its full year ended May 31, 2014, a 19.4 per cent increase from a year ago.

Revenue also surged 49.1 per cent to a S$753.9 million - also a record - driven up by higher turnover from its property development segment, arising from sales at its developments M-Space, The Midtown, Spottiswoode Suites and Lincoln Suites.

Revenue from its construction segment - the largest contributor - also rose from higher revenue recognition from its ongoing and new projects, it said.

Lian Beng did not provide a specific set of results for its fourth quarter only.

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