Lian Beng Group, the construction group, reported an 8.1% increase in earnings to $51.8 million for its financial year months ended 31 May 2012 (FY2012).
For the full year, the group is proposing a 1 cents tax exempt first and final 1-tier cash dividend and an additional 1 cent special tax exempt 1-tier cash dividend to be paid on Oct 19.
Total revenue for the full year was $445 million, with 75.2% coming from construction.
Riding upon the growth of the overall construction industry in Singapore, ready-mixed concrete segment grew fastest with revenue percentage contribution increasing from 8.3% in FY2011 to 17.4% in FY2012.
The group has set up an additional plant at Punggol Timor and expanded its mixer trucks fleet in FY2012, translating to an increase in the group’s property, plant and equipment from $42.6 million in FY2011 to $50.0 million in FY2012.
Lian Beng’s net order book stood at $652 million as at 31 May 2012, providing the group with a continuous flow of activities through FY2015.
Ong Pang Aik, Lian Beng’s Executive Chairman, said, “With the better overall performance of the group, we intend to increase our dividend to 2.0 cents per share for FY2012, a 25% increase from 1.6 cents per share for FY2011.” FY2012’s 2.0 cents per share of dividend works out to a dividend payout of 20.3%, and a yield of 5.5% based on closing share price of 36.5 cents as at 31 May 2012.”
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