Lian Beng's profits fell 25.7% to S$30.1m

Blame it on these 3 culprits.

According to OCBC Investment Research, Lian Beng’s 9M13 PATMI decreased 25.7% YoY to S$30.1m despite revenue increasing 5.1% YoY to S$350.7m on higher revenue recognition from construction projects.

Here's more:

The decline in profit was attributable to lower gross margin, higher operating expenses and a one-off gain of S$7.9m on the sale of an investment property in 9M12. Lian Beng’s construction order book, including recent contract wins of Bartley Ridge, and projects at Sunview and Tampines Crescent, totals S$986m.

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