SINGAPORE (Nov 9): SIIC Environment Holdings, the water treatment and environmental protection company, reported 3Q earnings rose 17.2% to RMB110.2 million ($22.6 million) from RMB94.0 million a year ago.
Revenue more than treble to RMB1.36 billion from RMB394.9 million a year ago, lifted by higher sales across all business divisions as the group continues to build up capacity and extends its geographical reach across China.
Gross profit increased 92.2% to RMB1.06 billion from RMB549 million for the same period under review. Profit from operations improved by 107.4% y-o-y to RMB837 million from RMB403 million.
“Looking ahead, I am confident that we will end the year on a strong note as we remain steadfast in our approach to buildout and upgrade current facilities and services, and acquire more accretive assets in a sustainable manner,” says Zhou Jun, Executive Chairman of the group.
Shares in SIIC Environment last traded at 32 cents.
