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Monday, 18 October 2010

K-Green posts Q3 net profits of S$4.4 mln

By LYNN KAN


K-Green, which was listed on the Singapore Exchange on 29 June, also reported its net profits todate, which stood at $4.57 million.

Based on K-Green's forecast of $3.61 million, its net profits to date was 26.5 per cent higher than predicted, said K-Green in its unaudited report card.

K-Green also recorded revenues worth $26.1 million in its third quarter.

K-Green holds three plants, namely the Senoko Waste-to-Energy (WTE) Plant, the Keppel Seghers Tuas WTE Plant and the Ulu Pandan NEWater Plant.

Earnings per share for the third quarter is 0.7 cents. EPS from its date of listing to 30 Sept is 0.73 cents.

K-Green said that the underlying performance of its assets 'is expected to remain stable.' 'All three assets have long-term concession agreements with Singapore statutory bodies, namely NEA and PUB.' K-Green's trustee-manager said it will 'continuously review acquisition opportunities.'

As of 30 Sept, net assets of the group stood at $720.9 million.

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