China Jinjiang Environment chalks up strong jump in Q3 profit

CHINA Jinjiang Environment Holding Co on Wednesday reported a near-70 per cent year-on-year jump in net profit to 138.18 million yuan (S$28.27 million) for the third quarter ended Sept 30, 2016, in line with higher revenue.

Revenue for the quarter was some 61 per cent higher at 596.3 million yuan, thanks partly to higher contributions from its waste-to-energy business.

Earnings per share came to 12.13 RMB cents, up from 8.14 RMB cents a year ago.

The group said it is also targeting projects outside of China, with a specific focus on South-east Asia market, where the waste composition is likely to be similar to that in China.