Hyflux's Q3 earnings more than triple to S$21.5m

WATER treatment firm Hyflux on Thursday posted a net profit of S$21.5 million for its third quarter ended Sept 30, 2016, more than three times the S$6.4 million a year ago.

Revenue more than doubled to S$296 million, from S$134 million a year ago.

Higher profit and revenue were mainly contributed by the TuasOne Waste-to-Energy project and Qurayyat Independent Water Project in Oman, Hyflux said.

Profits from higher engineering, procurement and construction activities were partially offset by the weak Singapore power market.

Hyflux last traded at S$0.465, up 1.5 Singapore cents or 3.3 per cent, before results were out.