The net profit decline was caused by higher financing costs, the company said.
China-based SIIC Environment announced that its revenue and net profit attributable to shareholders in FY2023 for the 12 months to Dec 31, 2023 fell by 8.8% and 22.6% y-o-y, respectively, to RMB7.573 billion and RMB604 million, respectively.
The higher margins and revenue from waste water treatment were offset by the lower construction revenue.
