Revenue from the engineering business decreased by 94.2% y-o-y to $6.9 million, while membrane system sales dropped 84.9% y-o-y to $13.7 million. The decrease in both business segments was mainly due to delay in two major projects, namely Meigu and Lanzhou as a result of adverse wintry condition.
SINGAPORE (Apr 29): Citic Envirotech announced that its 1Q19 earnings have declined by 92.2% to $3.1 million, compared to $39.3 million in 1Q18.
Revenue for the period dropped by 72.2% to $72.1 million from $259.2 million last year.
