Lum Chang Swings to Profit in Fiscal H2; Shares Up 3%

MT Newswires08-28

Lum Chang (SGX:L19) booked a profit attributable to equity holders of SG$3.7 million for the six months ended June 30, rebounding from an attributable loss of SG$29.3 million a year ago.

Earnings per share came in at SG$0.0099 per share, reversing a loss per share of SG$0.0779 per share a year earlier, according to a filing with the Singapore Exchange on Tuesday.

Revenue surged 36% year-over-year to SG$267.8 million from SG$196.7 million, driven by higher revenue generated by the construction segment.

The directors proposed a final dividend of SG$0.01 per share for the fiscal 2024.

Shares of the construction company were up over 3% in recent trading.

Price (SGD): S$0.30, Change: S$+0.010, Percent Change: +3.45%

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