Singapore-based building construction company Lian Beng Group announced that its profit for the full year ending June 2011 has doubled to S$48.18 million, from S$24 million a year ago, mainly attributed to strong performance from its construction and property developments, as well as its ready-mixed concrete divisions.
Full-year revenue also jumped 46.7 percent to S$507.30 million, while earnings per share rose to 9.10 cents from 4.54 cents in the previous year.
“We have attained a historical high,” said Ong Pang Aik, Executive Chairman of Lian Beng Group.
The construction division contributed 83.4 percent to the company’s total revenue, while its property development and ready-mixed concrete division each contributed slightly more than eight percent.
“The overall growth in revenue was mainly driven by private sector demand for the group’s construction and construction-related services,” it said.
As of 31 May 2011, the company’s order book stood at S$839 million, comprised mainly of private residential projects, including Hedges Park and Waterfront Isle, worth S$280 million in total.
Going forward, Ong noted that the company is poised to and will continue to pursue tender opportunities in both the public and private sectors, as well as capitalise on the domestic housing demand.
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