Hyflux posts net loss of S$25.1m for Q2

MAINBOARD-LISTED Hyflux on Thursday posted a net loss of S$25.1 million for the second quarter of 2017, compared to the net profit of S$2.6 million in the same period last year.

It also saw its revenue plunge 65 per cent to S$81.76 million in the period ended June 30.

Hyflux said the drop in revenue was due to lower engineering, procurement and construction activities for the TuasOne waste-to-energy project in Singapore and Qurayyat Independent Water Project in Oman, in line with planned construction schedule.

Its net assets value per share fell to 28.9 Singapore cents from 45.1 Singapore cents.