- Record revenue of S$570 million
- Net profit rises 18% to S$88.5 million
- Recommends increase of final dividend to 3.50 Singapore cents per share
Singapore, 23 February 2011 – Mainboard-listed Hyflux Ltd (“Hyflux” or “the Group”) has posted its best profits in the Group’s history, chalking up an 18% increase in net profit after tax and minority interests (“PATMI”) of S$88.5 million for the financial year ended 31 December 2010 (“FY2010”) from S$75.0 million for the financial year ended 31 December 2009 (“FY2009”).
The profit for FY2010 was posted on the back of record revenue of S$569.7 million, driven by higher revenue contributions from both the municipal and industrial segments. The revenue for FY2010 was a 9% rise against FY2009 revenue of S$524.8 million.
“We kept a tight rein on expenses and restructured for cost competitiveness. We will continue to strike a prudent balance between costs, productivity and revenue growth, and especially so when our Group is embarking on expanding our capabilities and capacity in order to take on larger and more complex water infrastructure projects around the world,” said Ms Olivia Lum, Group CEO & President of Hyflux.
The Board of Directors of Hyflux has recommended a final dividend of 3.50 Singapore cents per ordinary share. This is in addition to an interim dividend of 1.0 Singapore cents per share that was paid out on 15 September 2010. The total dividend payout for FY2010 will amount to S$36.0 million compared to S$28.5 million in FY2009.
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