Citic Envirotech posts profit fall of almost 17% for Q2

CITIC Envirotech saw its second quarter profit slide nearly 17 per cent year on year to S$15 million, while revenue was close to 33 per cent lower at S$70.88 million.

The drop in revenue was due to lower contributions from its engineering business. Earning per share came to 1.23 Singapore cents, down from 1.83 cents a year ago.

For the six month period, net profit fell about 54 per cent to S$18.71 million while revenue slid about 10 per cent to S$154.73 million.