Hyflux's Q3 net profit up 5%, plans 1-for-2 bonus issue

By ANGELA TAN


Hyflux Limited reported on Thursday that its net profit for the third quarter ended September 30, 2010 inched up 5 per cent from a year ago to S$19 million.

Revenue grew 9 per cent from a year ago to S$137.45 million.

China accounted for 29 per cent of total revenue, while Middle East and North Africa contributed about 62 per cent.

Its cash position increased to S$307.6 million on September 30, 2010 from S$166.7 million on December 31, 2009.

Hyflux is proposing to issue one-for-two bonus share to reward shareholders for their continued support.

Under the proposed bonus issue, each existing shareholder will receive one bonus share for every two existing ordinary shares he owns. A total of 285.38 million bonus shares are expected to be issued.