CONSTRUCTION company Lum Chang Holdings posted a 37 per cent drop in group net profit for the year ended June 30 to S$ 18.7 million.

Revenue slipped 13 per cent to S$ 369.02 million, due largely to lower revenues of S$ 53.9 million recognised from two of the group’s Malaysian developments as well as lower revenues from completed construction projects amounting to S$ 173.6 million. That said, the lower revenue was partly offset by higher revenue recognition of S$ 171.1 million for three ongoing construction projects.

Earnings per share fel…
The Business Times