MAINBOARD-listed SIIC Environment Holdings said that its revenue increased by 10.7 per cent to RMB181.1 million (S$38.2 million) for the quarter ended Sep 30, 2021, up from RMB163.5 million from a year earlier.

Revenue for Q3 also increased by 17.6 per cent to RMB1.77 billion, up from RMB1.51 billion a year ago.

Earnings per share stood at RMB7.03 cents for the quarter, up from RMB6.28 cents from the previous year.

No interim dividend was declared for the quarter, as was the case a year ago.

For the 9 months ended Sep 30, 2021, the company's net profit was up 15.5 per cent at RMB513.8 million, up from RMB444.7 million the year before. Similarly, revenue rose by 22.3 per cent to RMB5.07 billion, up from RMB4.15 billion a year ago.

The company attributed the increase in revenue to the growth of operating and maintenance revenue from service concession arrangements.

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Construction revenue also saw growth, driven by accelerated progress of construction projects. In particular, this segment's revenue grew by 27.9 per cent year-on-year to RMB1.64 billion.

Earnings per share stood at RMB19.89 cents in 9 months ending Sep 30, 2021, up from 17.07 cents from the previous year.

The group said that governments at all levels in China have been constructing new municipal environmental protection projects as the country strengthens support for its environmental protection industry.

In the third quarter, the group was able to secure 8 new wastewater treatment projects with a total designed capacity of 11,400 tonnes per day. It has also signed upgrading or operations and maintenance (O&M) extension agreements for four wastewater treatment projects with a total designed capacity of 170,000 tonnes per day.

Three wastewater treatment projects with a total designed capacity of 10,300 tonnes per day also commenced operation in the same period.

SIIC Environment chief executive officer Yang Jianwei said: "To seize the market expansion opportunities presented by national energy-saving and emission-reduction policies, the group will continue to develop its water treatment business, improve its environmental protection technologies, and raise projects' benefits, so as to broaden its income sources."

Shares of SIIC Environment were up S$0.005 or 2.3 per cent to close at S$0.225, before the financial results were released on Monday.