Hyflux 2Q rev­enue falls 25% on lower China con­tri­bu­tion

China Daily (Hong Kong) - - BUSINESS DIGEST -

Hyflux Ltd, Sin­ga­pore’s big­gest pub­licly traded wa­ter com­pany, re­ported a 25 per­cent year-on-year drop in rev­enue, cit­ing lower con­tri­bu­tions from China. Sales de­clined to S$138.4 mil­lion ($109 mil­lion), ac­cord­ing to a state­ment to the Sin­ga­pore Stock Ex­change on Tues­day. Net in­come was S$17.7 mil­lion, higher than S$17.5 mil­lion a year ear­lier. The com­pany’s lower rev­enue from China was due to “macro fac­tors,” ac­cord­ing to the state­ment. The wa­ter com­pany with­drew from two wa­ter projects at the Hechuan In­dus­trial park in Chongqing city be­cause of a “fore­see­able low off­take vol­ume of the wa­ter’, it said.

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