Utd Enviro Q3 profit up; Memstar Q2 earnings down

WATER treatment company United Envirotech Ltd (UEL) has posted a one per cent drop in third quarter net profit to $8.4 million, even as revenue jumped 23 per cent to $64.3 million due to higher revenue from its recurring water treatment business, which skyrocketed 117 per cent to $20.2 million.

Earnings before interest, tax, depreciation and amortisation for its recurring water treatment business segment jumped nearly 140.9 per cent to $10.6 million for the third quarter from $4.4 million a year earlier.

The mainboard-listed company yesterday reported earnings per share of 1.41 cents for the third quarter ended Dec 31, down from 1.78 cents previously.