China Everbright Water's Q1 profit rises 11% to HK$114.5m

CHINA Everbright Water enjoyed an 11 per cent increase in its net profit for the first quarter ended March 31 to HK$114.5 million (S$20.7 million).

Revenue rose 18 per cent to HK$774.1 million, mainly due to higher construction revenue from the sponge city construction project and the river-basin ecological restoration project in addition to the expansion and upgrading of several wastewater treatment plants.

The environment protection company said it has proactively expanded into new markets and broadened its business scope during the period, securing five water projects with a total investment value exceeding four billion yuan (S$816 million).