CITIC Envirotech Q3 net profit falls 55.4%

Singapore

NET profit attributable to shareholders for for water and wastewater treatment and recycling solutions provider CITIC Envirotech (CEL) sank 55.4 per cent to S$21.9 million in its third quarter, which the company blamed on a lower gross profit margin for its civil works business compared to the same period a year ago.

Earnings per share dropped to 0.91 Singapore cent from 2.17 Singapore cents in the previous year.