Hyflux bottom line hit by lower disposal gains

Singapore

WATER-TREATMENT group Hyflux said that it was looking out for more opportunities to sell off assets as it posted a sharp drop in earnings for the second quarter amid what it called a "challenging macro-economic environment".

Net profit for the three months ended June 30 dived 58 per cent to S$25.95 million from the previous year, it said in a Singapore Exchange filing. That was in spite of an 18 per cent increase in revenue to S$94.80 million over the same period.