China Everbright FY21 net profit up 17% to HK$1.2b; proposes final dividend of HK$0.0683
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CHINA Everbright Water U 9E posted on Monday (Feb 28) a net profit of HKS$1.2 billion (S$209 million) for the full year ended Dec 31, 2021, up 17 per cent from HK$1 billion in the corresponding year-ago period.
The group's revenue increased by 22 per cent to HK$6.9 billion in FY2021 from HK$5.7 billion in FY2020 on the back of higher revenue from its construction services.
With the lifting of restrictions due to the effective containment of Covid-19 in China, China Everbright Water's construction projects resumed in April 2020, which led to growth in revenue in this segment, the group said in a bourse filing.
The environmental protection company also saw an increase in the overall gross profit margin in FY2021 to 41 per cent, from 39 per cent in FY2020.
Earnings per share stood at 41.96 Hong Kong cents per share, up from 35.80 cents in the year-ago period.
The board proposed a final dividend of 6.83 Hong Kong cents per share for the fiscal year, up from 6.07 cents in FY2020. This brings the total dividend per share for FY2021 to 12.58 cents.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The final dividend is subject to the approval of the shareholders and is expected to be paid out on May 18, 2022.
China Everbright Water noted that for FY2021, it secured 14 wastewater treatment projects and 1 reusable water project for a total investment of 3.8 billion yuan. It also undertook an engineering, procurement and construction project as well as an overseas operations and maintenance project.
Executive director and chief executive officer of the company, Tao Junjie, said the group has plans to strengthen itself in existing markets, expand its business and enhance coordination and synergy among different regions.
"It will strive and forge ahead with determination towards the goal of becoming a water environment management company that is driven by green innovation," he added.
Shares of China Everbright Water were trading at S$0.31, down 1.6 per cent or S$0.005 as at the midday trading break on Monday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
