China Everbright Water registers flattish profit in Q1

CHINA Everbright Water on Friday reported a marginal one per cent year-on-year increase in net profit to HK$106.1 million (S$18.7 million) for Q1 FY2016.

The bottom line was dragged down by higher costs of sales and higher expenses.

Revenue rose 51 per cent to HK$657.24 million, due to the increase in construction revenue as several waste-water treatment projects were under construction. Construction revenue increased by 145 per cent compared with the first quarter ended March 31, 2015.

Earnings per share was HK$0.040, versus HK$0.041 previously.

Wang Tianyi, chairman of Everbright Water, said: "Going forward, the group will continue to expand organically and through acquisitions, increase business development efforts, optimize construction and operation management and increase technology research and development investment and capability."