Citic Envirotech doubles profit for FY2016

CITIC Envirotech reported on Wednesday a doubling of its bottom line for the year ended Dec 31, 2016.

Its net profit attributable to shareholders climbed to S$99.3 million for FY2016, from S$48.3 million for FY2015.

Its revenue for the period jumped 62.1 per cent year on year to S$544.6 million, from S$336.0 million.

The integrated water solution provider said this was due mainly to the improved performance of its engineering business.

Citic Envirotech shares closed 1.5 Singapore cents down at S$0.77 on Wednesday.