Citic Envirotech Q2 profit soars on stronger revenue

Singapore

ENVIRONMENTAL engineering firm Citic Envirotech's (CEL) second-quarter net profit more than doubled to S$43.51 million, up from S$19.34 million a year ago, in line with stronger revenue contributions.

Revenue for the three-month period rose over 150 per cent to S$279.92 million due to higher engineering revenue as well as membrane system sales. Meanwhile, earnings per share for the quarter spiked to 1.82 Singapore cents, up from 0.95 cent previously.