TODAY
SINGAPORE - Hyflux, Singapore’s largest publicly traded water
treatment company, announced on Thursday a 74 per cent rise in
third-quarter earnings, buoyed by municipal projects across Asia,
Bloomberg News reported.
Net profit for the three months ended Sept 30 was S$25.3 million, compared with S$14.5 million for the year-earlier period, the company said in a statement. Revenue for the period rose 26 per cent to S$187.7 million.
Completion of projects “markedly lifted growth” while the China market contributed 4 per cent to total revenue in the quarter, a drop from 14 per cent a year earlier. Hyflux also said it would be “actively pursuing desalination and water-recycling opportunities in the industrial water sector.”
Hyflux and Singapore’s national water agency PUB opened the city-state’s largest sea water reverse-osmosis desalination facility, Tuaspring, in September. Given the Dahej desalination project in India that’s on course for financial close in 2014 and Tuaspring’s completion, Hyflux said it anticipated a slower fourth quarter.
Net profit for the three months ended Sept 30 was S$25.3 million, compared with S$14.5 million for the year-earlier period, the company said in a statement. Revenue for the period rose 26 per cent to S$187.7 million.
Completion of projects “markedly lifted growth” while the China market contributed 4 per cent to total revenue in the quarter, a drop from 14 per cent a year earlier. Hyflux also said it would be “actively pursuing desalination and water-recycling opportunities in the industrial water sector.”
Hyflux and Singapore’s national water agency PUB opened the city-state’s largest sea water reverse-osmosis desalination facility, Tuaspring, in September. Given the Dahej desalination project in India that’s on course for financial close in 2014 and Tuaspring’s completion, Hyflux said it anticipated a slower fourth quarter.
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