Hyflux, Singapore’s biggest water treatment company, posted a 4.7%
increase in first-quarter profit as it reduced spending on raw materials
and labour.
Net income climbed to $8 million in the three months ended March 31,
from $7.7 million a year earlier, Hyflux said in a statement to the
stock exchange today. Operating costs and expenditures fell by about 8%,
according to the company, which built Singapore’s first water-recycling
plant.
The industrial water sector’s outlook is improving, Hyflux said.
Countries such as China and India “impose more stringent water discharge
standards and encourage industries to seek alternative sustainable
sources of water, such as recycling and desalination,” according to the
statement.
Hyflux said its Tuaspring Desalination Plant in the city-state is
undergoing testing and commissioning and is scheduled to begin
operations in the second half of this year.
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