Lian Beng's first-half profit drops 13.2% to $16.7 million on higher marketing costs
HIGHER marketing and sales costs for its property projects have put a drag on construction firm Lian Beng Group's first-half profit.
It posted a 13.2 per cent drop in net profit to $16.7 million dollars for the six months ended on November 30.
This was despite revenue jumping by 39.6 per cent to $328.1 million dollars, thanks to growth across all its business segments.
Cost of sales, however, went up by 40.4 per cent to $286.8 million from $204.3 million.