Hyflux Q1 profit down 85% on lower divestment gains

Singapore

LOWER divestment gains led to water solutions firm Hyflux posting a net profit of S$5.6 million for its first quarter ended March 31, 2015, down 85 per cent from S$37.9 million a year ago.

Revenue was down 32 per cent to S$60.4 million from S$88.3 million a year ago, mainly due to lower engineering, procurement and construction activities.