Lian Beng Group's full year net profit drops by nearly a quarter to $39.4 million
Falling margins have dealt a blow to construction group Lian Beng, which reported a 24.3 per cent drop in net profit to $39.4 million.
This was despite a 13.6 per cent rise in revenue to $505.6 million for the year ended May 31.
Gross profit slipped by 11.6 per cent to $65 million, resulting in a 3.6 percentage point fall in gross profit margin to 12.9 per cent.
Construction projects experienced lower gross margin.