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China Everbright Water registers flattish profit in Q1

CHINA Everbright Water on Friday reported a marginal one per cent year-on-year increase in net profit to HK$106.1 million (S$18.7 million) for Q1 FY2016.

The bottom line was dragged down by higher costs of sales and higher expenses.

Revenue rose 51 per cent to HK$657.24 million, due to the increase in construction revenue as several waste-water treatment projects were under construction. Construction revenue increased by 145 per cent compared with the first quarter ended March 31, 2015.

Earnings per share was HK$0.040, versus HK$0.041 previously.

Wang Tianyi, chairman of Everbright Water, said: "Going forward, the group will continue to expand organically and through acquisitions, increase business development efforts, optimize construction and operation management and increase technology research and development investment and capability."

sentifi.com

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