Hyflux Q1 net profit down 85% to S$5.6m on lack of divestment gains
WATER solutions firm Hyflux posted a net profit of S$5.6 million for its first quarter ended March 31, 2015, down 85 per cent from S$37.9 million a year ago.
Revenue was down 32 per cent to S$60.4 million from S$88.3 million a year ago, mainly due to lower engineering, procurement and construction activities.
Lower net profit was due to other income falling 53 per cent to S$27 million from S$56.9 million a year ago. Included in other income a year ago was a S$54.1 million gain after the group sold its investments in a joint venture and an associate.
Hyflux closed Thursday trading at 86.5 cents, down 1.5 cents or 1.7 per cent, before the results were released.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Keppel DC Reit reports 13.7% lower Q1 DPU of S$0.02192
Netflix handily beats subscriber targets, misses on revenue forecast
Meta releases early versions of its Llama 3 AI model
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom