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United Envirotech's Q3 net profit up 49%

Water treatment solutions provider United Envirotech posted a net profit of S$12.5 million for the three months ended 31 Dec, 2014, up from S$8.4 million a year ago.

Meanwhile, revenue surged 80.6 per cent to S$116.07 million.

For 3Q15, revenue from the recurring water treatment business segment increased 37.6 per cent to S$27.8 million, while revenue from engineering, procurement, and construction projects increased 74.4 per cent to S$76.9 million.

However, earnings per share for the quarter under review worked out to 1.34 cents, down from 1.41 cents a year ago.

"The group remains positive about the outlook of the Chinese water treatment sector, as well as the demand for membrane products and membrane bioreactor technology," the company said.

It expects membrane technology to become more widely accepted as the Chinese government continues to work towards raising water discharge standards across China.

"To fully capture this growing market, the group will continue to explore joint-ventures with strategic partners to secure more EPC projects and boost membrane sales," it added.