Lum Chang net profit up 66% in Q2

SINGAPORE - Construction firm Lum Chang on Friday (Feb 5) posted a 66 per cent jump in net profit to S$12.0 million for the second quarter.

Revenue in the three months ended Dec 31 was S$100.1 million, up 35 per cent from a year ago.

This was due mainly to two projects reaching their revenue recognition stage, reporting a contribution of S$42.5 million.

An interim dividend of 0.75 Singapore cents per share was declared, flat from a year ago and payable on March 11.

Earnings per share stood at 3.13 Singapore cents, up from 1.89 Singapore cents the year before. Net asset value per share was 55.97 Singapore cents as at Dec 31, up from 54.82 Singapore cents as at June 30.

marilee@sph.com.sg