SINGAPORE - Singapore water treatment company Hyflux said on Thursday its first quarter net profit rose 15 per cent from a year ago due to better cost management that contributed to higher margins.
It earned S$7.4 million (US$6 million) in the three months ended March 31, up from S$6.4 million in Jan-March 2010.
Revenue, however, fell 14 per cent to S$86.8 million.
Looking ahead, Hyflux said it expected future growth to come from Singapore and China, where a total of S$850 million worth of contracts were secured during the quarter under review.
'China's multi-pronged approach to tackle its water security issues will translate into opportunities for Hyflux,' group CEO Olivia Lum said in a statement. -- REUTERS
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